Former No. 1 pick Anthony Bennett has cleared waivers and will sign with the Toronto Raptors, a source close to the situation told ESPN Insider Jeff Goodman.
The Minnesota Timberwolves bought out Bennett's contract Wednesday. The buyout was for $3.6 million, a source told The Associated Press.
If Bennett had been claimed on waivers, he would have made his full $5.8 million salary and been owed nothing by the Timberwolves.
Bennett was the top pick of the 2013 draft by the Cleveland Cavaliers. He was traded to Minnesota in the Kevin Love deal in the summer of 2014 but struggled in his lone season there with injuries.
The Timberwolves had attempted to deal Bennett but could not find a trade partner to take him, a league source previously told ESPN's Chris Broussard.