7:51pm: A source tells Jerry Zgoda of the Star Tribune that the two sides are no closer to a deal, despite Wojnarowski's report. The Wolves are still waiting to hear back on an offer they made this past Friday, Zgoda writes.
2:33pm: Pekovic isn't close to signing anything yet, agent Misko Raznatovic tells Emiliano Carchia of Sportando.
Heading into the offseason, Pekovic was considered perhaps the top restricted free agent on the market, but he hasn't drawn the sort of interest that last year's top restricted options did. The perception all along has been that the Wolves and Pekovic would work something out, and no potential rival suitors, such as the Mavericks, Hawks, or Cavs, appear poised to extend an offer sheet to the big man that would make him think twice.
In addition to nearing a deal with Pekovic, the Timberwolves are closing in on Corey Brewer, and have already reached agreements with Chase Budinger and Kevin Martin. No matter what order those moves happen in, the Wolves wouldn't be able to fit all those players into their cap space, so at least one sign-and-trade will be needed if Minnesota hopes to bring all four players aboard.