Brooklyn Nets power forward Kevin Garnett has agreed to return to Minnesota and join the Timberwolves again after he waived his no-trade clause, the Timberwolves announced on Wednesday.

NBA.com broke the news as it said that the team has agreed to acquire him in exchange for forward Thaddeus Young.

"We are excited to have Kevin Garnett back in Minnesota and playing for the Timberwolves. When people think of the Timberwolves they think of KG. He had some great years for us and our organization and fans really respect what he's done here in Minnesota and throughout his NBA career. KG will bring his usual strong work ethic and leadership and be a positive influence for our young team," Timberwolves head coach Flip Saunders told NBA.com.

Timberwolves owner Glen Taylor, meanwhile, said that acquiring Garnett back "means a lot" to him.

"I have great respect for Kevin as a person and a player. He was the first player we drafted after I bought the team and we got to see him develop into one of the best players in the world. Like our fans, I'm excited to be able to watch Kevin in a Timberwolves uniform once again," Taylor said.

An ESPN article indicated that Garnett will be tasked to tutor "a young and impressionable nucleus in hopes of ending a playoff drought that will reach 11 straight years this season." The player spent the first 12 years of his career with the Timberwolves after he was drafted by the team in 1995.

In 2004, Garnett was able to lead the team to reach the Western Conference finals, a feat that only he can accomplish, Yahoo Sports noted. The team, however, failed to land a spot on the playoffs after that and they have also traded their star player to the Boston Celtics in 2007.

One of the team's young players, Ricky Rubio, said that he is excited for Garnett's return and the things he will be able to teach them.

"I'm going to be here with my notebook and see whatever he does. I remember watching him with the Timberwolves and the Boston Celtics winning a championship; playing against him was something special. You could see players were afraid of him. That means he was tough, but he was a winner. No matter what a team needs to do, he did it," Rubio told ESPN.

This movement might just be the chance for the team to make a mark again in history with the help of Garnett.

"Kevin doesn't like change. That's how he's always been. But I think when he looks back, he doesn't think moving from Brooklyn to here as a big change. I think he looks at it from moving back and being home," Saunders told ESPN.

Reports said that he will ink a two-year deal with his former team but sources claimed that details of the agreement have not yet been discussed since Garnett is just set to become a free agent in July.

Upon his return to Minnesota, Garnett will be working again with Saunders and also former teammate Sam Mitchell who is now an assistant coach for the Timberwolves, ESPN added.