Minnesota Timberwolves Vice President of Basketball Operations Kevin McHale announced the team has signed forward Craig Smith. Per team policy, terms of the contract were not disclosed.

"Craig Smith is a competitor and will bring toughness to our basketball team," said McHale. "He's an aggressive, hard-nosed player who rebounds and has a nice touch around the basket. Craig was the leader at Boston College, and was someone who continually improved his game during his four years."

Latrell Sprewell is being investigated for sexual assault, according to sources at the Milwaukee Police Department.

MPD spokesperson Anne E. Schwartz confirmed that Sprewell voluntarily appeared at the MPD's Downtown headquarters this morning with his attorneys.

Police indicate that a 21-year-old female alleged that she and Sprewell were having consensual sex Tuesday aboard his yacht, "Milwaukee's Best," when Sprewell began to strangle her. Police allegedly observed red marks on the woman's neck.

There have been several reports recently indicating that an investor from California was close to purchasing a significant share of the Minnesota Timberwolves.  

Current owner Glen Taylor has said that he will not be selling any of his interest in the team, but added that the friend of his will be buying out some of the limited partners.

Minnesota owner Glen Taylor expect free agent Reggie Evans to remain in Denver.

It has been widely reported that the Wolves have been interested in his services.

Johnny Davis, former Magic head coach has joined Rick Carlisle's staff with the Indiana Pacers. Davis was with the Minnesota Timberwolves last season, but he was replaced by Randy Wittman, who left Orlando in order to return to Minnesota.

Wittman is the leading candidate to replace Dwane Casey if the Wolves falter out of the gate.

With Lorenzo Wright off the market, the one remaining free agent in whom the Wolves have some interest is Reggie Evans.

Evans was dealt in a mid-season trade from Seattle to Denver.  The Nuggets have interest in bringing him back, but currently have a glut of power forwards.

According to Charley Walters, an investor from California remains likely to purchase a 30 percent share of the Minnesota Timberwolves.

According to Charley Walters of the St. Paul Pioneer Press, 30% of the Minnesota Timberwolves could soon be sold to an investor from California.

The Kings signed center Loren Woods on Tuesday.

Woods, a five-year veteran, spent the last two seasons with the Raptors. He also has played for the Heat and Timberwolves, who drafted him in 2001. He averaged 2.3 points and 4.1 rebounds last season.

The Pacers and Hawks are close to finishing a sign-and-trade deal that would send Al Harrington back to Indiana, but in case it isn't finalized yet again, the Lakers, Nets, Warriors, Celtics and Timberwolves are all ready to get into the mix for the veteran forward.