Kevin Garnett will retire after agreeing on a contract buyout with the Timberwolves, he announced on Instagram.
ESPN.com’s Marc Stein reported earlier this week that the two sides were nearing a deal, the belief being that Garnett would choose to retire after 21 seasons.
Garnett, 40, has one year left on his current deal, worth $8 million. He rejoined the team via trade in 2015 and served largely in a mentor capacity to Minnesota’s young players last season.
“Kevin Garnett is one of the fiercest competitors our league has ever seen,” NBA commissioner Adam Silver said in a statement. “He held himself to the highest standard of preparation and performance for a remarkable 21 seasons. On behalf of the NBA family, I thank Kevin for his sustained excellence and the enormous impact he’s had on the game.”
Watch Garnett’s retirement announcement from Instagram below:
Garnett was the No. 5 pick in the 1995 NBA draft, going directly from high school to the league. He spent 12 seasons with the Timberwolves, leading the franchise to their only appearance in a conference finals.
He was traded to the Boston Celtics in the 2007 off-season and helped the team win an NBA title in his first season in Boston.
Garnett was traded to the Brooklyn Nets in 2013, then returned to the Timberwolves in February ’15. He played in only 43 games last season because of recurring knee trouble.
Regarded as one of the greatest two-way big men ever, Garnett averaged 17.8 points, 10.6 rebounds, 3.7 assists and 1.4 blocks for his career.