4:50pm: The Pelicans have officially announced the signing of Stiemsma in a press release.
10:15am: The Pelicans have reached an agreement to sign Greg Stiemsma, according to agent Mark Bartelstein (Twitter link via Jeff Zillgitt of USA Today). The deal will be for one year and $2.7MM, says ESPN.com's Chris Broussard (via Twitter).
Stiemsma, 27, was released on the weekend by the Timberwolves, prior to his 2013/14 contract becoming guaranteed. However, based on the figure reported by Broussard, the big man seems to be in line for a salary nearly identical to what he would have earned anyway.
Stiemsma appeared in 76 games for the Wolves a year ago, averaging 4.0 PPG and 3.4 RPG as a center off the bench. For New Orleans, he'll serve as a de-facto replacement for Robin Lopez, who the Pelicans agreed to trade to Portland.
Sam Amick of USA Today first reported yesterday (via Twitter) that the Pelicans were among about 12 suitors for Stiemsma, while ESPN.com's Marc Stein tweeted earlier today that New Orleans appeared to be the frontrunner.