9:29pm: The deal is now official, with Burke heading to Utah for Shabazz Muhammad (No. 14) and Gorgui Dieng (No. 21).
7:34pm: The Jazz will acquire ninth overall pick Trey Burke from the Timberwolves, according to Adrian Wojnarowski of Yahoo! Sports (via Twitter). Jeff Goodman of CBSSports.com reports (via Twitter) that the T-Wolves will acquire the 14th and 21st picks in the swap.
There was speculation earlier today that Utah would trade up in the draft to land one of the top point guards on the board. It was reported that the team may have to include Alec Burks along with the two first-rounders to get a deal done, but with Burke slipping to No. 9, the Wolves were apparently ahppy to simply pick up an extra pick.