Source: Anthony Bennett, Timberwolves talking buyout

Anthony Bennett's time with the Minnesota Timberwolves appears almost over.

The Timberwolves intend to buy out the former No. 1 overall pick's contract after being unable to secure a trade partner to take him, a league source told ESPN's Chris Broussard.

The move would cut ties with the disappointing forward and top-of-the-draft bust just more than a year after Bennett was acquired from the Cleveland Cavaliers, and would give the Timberwolves an extra roster spot and added flexibility with the salary cap.

If he clears waivers, as expected, the 22-year-old Canadian, who was due $22.6 million over the final three years of his contract, would become an unrestricted free agent.

The news was first reported by Yahoo! Sports.

Minnesota acquired Bennett, along with Andrew Wiggins -- the 2014 No. 1 overall pick and fellow Canadian -- from the Cavaliers in 2014 in a three-team deal that netted Cleveland Kevin Love.

Bennett appeared in 57 games last season, averaging 5.2 points and 3.8 rebounds per game for the Timberwolves.