Anthony Bennett is on the move again.

A person with knowledge of the situation tells The Associated Press that the Minnesota Timberwolves have reached agreement on terms on a $3.65 million buyout with the former No. 1 overall pick. The person spoke on condition of anonymity because the buyout has not been announced.

If Bennett clears waivers, he will become a free agent. Bennett was the top pick of the 2013 draft by the Cleveland Cavaliers. He was traded to Minnesota in the Kevin Love deal last summer, but struggled in his lone season there with injuries.

If Bennett is claimed on waivers, he would make his full $5.8 million salary and would be owed nothing by the Wolves.

If he clears waivers, he is likely to sign a minimum free agent contract worth $947,000, thereby forfeiting about $1 million from his original salary.