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Report: Garnett will retire, ending comeback run with Wolves

Minnesota Timberwolves forward Kevin Garnett reacts from the bench during the second half of a game Jan. 19 against the New Orleans Pelicans at the Smoothie King Center. Derick E. Hingle-USA TODAY Sports1 / 5
Minnesota Timberwolves power forward Kevin Garnett shakes hands with San Antonio Spurs head coach Gregg Popovich during the first half Dec. 28 at AT&T Center in San Antonio, Texas. Soobum Im-USA TODAY Sports2 / 5
Minnesota Timberwolves forward Kevin Garnett reacts after a play in action against the Oklahoma City Thunder during the third quarter Jan. 15 at Chesapeake Energy Arena. Mark D. Smith-USA TODAY Sports3 / 5
The wristband of Minnesota Timberwolves forward Kevin Garnett commemorating Flip Saunders, Malik Sealy and Kirby Puckett is seen Jan. 12 at Target Center. Brace Hemmelgarn-USA TODAY Sports4 / 5
Minnesota Timberwolves forward Kevin Garnett celebrates with forward Tayshaun Prince Jan. 12 at the Smoothie King Center. Derick E. Hingle-USA TODAY Sports5 / 5

MINNEAPOLIS -- Minnesota Timberwolves forward Kevin Garnett is expected to announce his retirement after 21 NBA seasons on Friday, according to the Minneapolis Star Tribune.

The newspaper reported that Garnett and the Timberwolves reached a contract settlement earlier Friday. Garnett was signed for $8 million this season.

Garnett, 40, easily the most productive player in franchise history, spent 13 1/2 of his 21 NBA seasons with Minnesota.

He was drafted out of high school in 1995 and developed into one of the top power forwards in NBA history.

The 15-time All-Star ranks 17th with 26,071 career points, ninth in career rebounds with 14,662 and 17th in blocked shots with 2,037.

Garnett played in just 38 games last season due to knee and leg injuries and averaged just 3.2 points and 3.9 rebounds. His value lied more in terms of being a mentor for young stars Karl-Anthony Towns and Andrew Wiggins than for his production.

The Timberwolves hired Tom Thibodeau as coach and president in the offseason as well as a new general manager in Scott Layden. The duo is charged with completing the rebuilding process and halting a playoff absence that dates back to the 2003-04 campaign.

That meant resolving the Garnett situation in a manner that would eliminate the veteran from the roster prior to Tuesday's opening of training camp.

Garnett was drafted fifth overall out in 1995 and quickly blossomed into a major star and franchise icon. He averaged over 20 points in nine consecutive seasons and earned MVP honors in 2003-04 when he averaged 24.2 points and 13.9 rebounds.

Garnett was traded to the Boston Celtics in 2007 and was part of that franchise's 2008 championship squad.

Garnett returned to Minnesota prior to the trading deadline in 2015, when he was acquired from the Brooklyn Nets. He played in just five games prior to the end of the season.

Upon returning to Minnesota, Garnett spoke of his desire to become part owner of the team once his playing career again. But last year's death of Flip Saunders, the coach and president of basketball operations, began a transformation that now has Thibodeau and Layden shaping the team's future.