10:51pm: If the Blazers and Wolves fail to work out a trade and the Wolves sign Batum to an offer sheet, the Wolves will have to make a series of moves to do so, given what's expected to be a $10MM first-year salary in Minnesota's offer to Batum, reports Jerry Zgoda of the Star Tribune.
The moves would include buying out Brad Miller and Martell Webster and using the amnesty clause to waive Darko Milicic, Zgoda says, adding the Wolves may also have to trade a player. Luke Ridnour, J.J. Barea and Wesley Johnson are possible trade candidates in that scenario. Ridnour or a draft pick could be headed to the Bulls in a deal that would send Kyle Korver to the Blazers.
6:33pm: Chris Haynes of CSNNW.com has Olshey's comments on the possibility of a sign-and-trade for Batum.
You don't close the door to anything in this league,” the Blazers GM said. "But, from what I can see, as far as what they can viably offer as of today, I would think Nicolas would have more value than what they can put in a sign-and-trade.”
6:07pm: Both Jerry Zgoda of the Star Tribune and K.C. Johnson of the Chicago Tribune have speculated that Kyle Korver could be the "veteran small forward" involved in the rumored deal that Bucher reported (All Twitter links).
5:42pm: According to an Ric Bucher of ESPN.com, the Blazers are discussing a deal that would send Batum to the Wolves in exchange for two future first-round draft choices and a veteran small forward acquired from a third team. The Wolves will sign Batum to an offer sheet if a deal can't be reached by tonight, Bucher hears.
4:36pm: Blazers GM Neil Olshey will match any offer sheet for restricted free agent Nicolas Batum, according to Joe Freeman of The Oregonian (Twitter link). Batum agreed to sign a four-year offer sheet for between $45MM and $50MM with the Wolves earlier this month. Freeman adds, via Twitter, that Olshey said he's talked to the Wolves about working out a sign-and-trade for Batum, but hasn't liked any of Minnesota's proposals, and is no longer looking to trade the small forward.