SATURDAY 7:46pm: The Trail Blazers' unwillingness to work out a sign-and-trade with the Timberwolves may stem from the two teams' ongoing discussions to resolve a dispute involving a prior trade for Webster, reports Ric Bucher of ESPN.com.
THURSDAY 9:51pm: Dwight Jaynes of CSNNW.com writes that Minnesota added a 15% trade kicker to Batum's offer sheet in which a hefty 15% tax is imposed on the team that trades him during his new contract. This essentially makes it more difficult for Portland to match the deal, however, since the Timberwolves have not submitted the offer sheet to the league yet, there still remains the possibility of a sign-and-trade with the Trail Blazers.
7:13pm: Joe Freeman of OregonLive.com tweeted that the Trail Blazers have not received a signed offer sheet from Batum yet. Freeman also added that GM Neil Olshey did not indicate whether or not Portland and Minnesota were engaged in sign-and-trade talks (Twitter link).
1:29pm: Timberwolves majority owner Glen Taylor says the Timberwolves will submit Batum's offer sheet to the NBA by the end of the business day, giving Portland one last chance to work out a sign-and-trade, tweets Jerry Zgoda of the Star Tribune. Zgoda adds (via Twitter) that the T-Wolves are offering draft picks, but won't give up Derrick Williams or Nikola Pekovic.
11:53am: Nicolas Batum has officially signed a four-year, $46.5MM offer sheet with the Timberwolves, according to Chris Haynes of CSNNW.com. In order to make room for Batum's offer sheet, the Timberwolves officially announced that they have amnestied Darko Milicic.
Batum's signing gives the Trail Blazers three days to either match the offer or let the young forward head to Minnesota. It also means that a sign-and-trade is no longer an option for the Blazers and T-Wolves.
Batum and his agent have both indicated that the 23-year-old would like to move on from Portland, leading to speculation that the Blazers and Timberwolves could work out a sign-and-trade deal that would net Portland some assets for letting Batum go to Minnesota. However, it appears the two sides were unable to work out a deal, so the Wolves will take their chances with the offer sheet and hope they've called Neil Olshey's bluff -- the Portland GM has said the Blazers will match any offer for Batum. If Portland does officially match the deal, the club can't trade Batum for the next year without his consent.
The Bulls, meanwhile, had been involved in three-way trade talks with the Wolves and Blazers about a Kyle Korver deal, but those discussions are now dead, tweets K.C. Johnson of the Chicago Tribune. Johnson speculates that the Bulls could revisit Korver discussions with the Hawks.