Anthony Bennett reaches buyout agreement with Timberwolves

Anthony Bennett, the No. 1 overall pick in the 2013 NBA draft, has reached agreement on a contract buyout with the Minnesota Timberwolves, according to league sources.

Bennett has to clear waivers in the next 48 hours to become an unrestricted free agent.

Four teams have the salary cap space or the trade exception necessary to absorb Bennett’s $5.8 million contract: the Cleveland Cavaliers, Philadelphia 76ers, Portland Trail Blazers and Utah Jazz.

Philadelphia and Portland plan to look carefully at the possibility of claiming Bennett, according to league sources.