According to Yahoo's Adrian Wojnarowski, the Nuggets have rebuffed an offer from the Timberwolves that would have sent Brandon Roy and a first-round draft pick to Denver in exchange for center Timofey Mozgov.
Roy has been reportedly included in many of Minnesota's offers, with hopes that his contract (non-guaranteed for 2013-14) could serve as a selling point to teams looking for financial relief. According to a tweet by Darren Wolfson of 1500 ESPN in Minneapolis, the offered pick would be from the Grizzlies (owed to Minnesota in this year's draft).
The Timberwolves aren't holding out hope that the 6'6" guard will ever be ready to play in the NBA again, and it is believed that any team interested in taking the former star understands that also. Wojnarowski says that GM David Kahn would be interested in negotiating a buyout, possibly after the trade deadline if Minnesota is unable to include him in a deal.
With the emergence of Kosta Koufos in Denver coupled with the fact that Mozgov is scheduled to become a restricted free agent in July, the Nuggets have been trying to find a suitable trade partner in order to avoid possibly having to match an expensive offer sheet for the Russian center.