WEDNESDAY, 11:04pm: A source tells Sam Amico of Fox Sports Ohio that the Wolves are "close" to acquiring Brooks (Twitter link).
MONDAY, 4:34pm: Darren Wolfson of 1500 ESPN (on Twitter) asked a source if anything was close on a Brooks deal and he was told that nothing is imminent. "Nope, they're calling everyone," said the source.
3:37pm: The Timberwolves have talked to the Nets about a potential deal involving Brooklyn guard MarShon Brooks, according to Stefan Bondy of the New York Daily News. One source tells Bondy that talks haven't escalated to anything serious yet, but the Daily News scribe hears from another source that the Nets made Minnesota a proposal, and are waiting to hear back.
As Bondy notes, Minnesota has a glut of point guards on its roster, including Ricky Rubio, Jose Barea, Luke Ridnour, and Alexey Shved. With C.J. Watson having opted out of his contract with the Nets, Brooklyn is seeking a backup point guard, and would likely have interest in a player like Barea or Ridnour.
If the two sides were to reach an agreement, it would have to be more than just a one-to-one swap to work under CBA rules, since Brooks earns significantly less than either Ridnour or Barea. Both Wolves guards are earning $4MM+, while Brooks' rookie-scale contract pays him slightly over $1MM.