The Timberwolves have agreed to trade Kevin Garnett to the Celtics, the Associated Press and Washington Post reported.
Among those who could head to Minnesota are forward Al Jefferson, guard Sebastian Telfair, swingman Gerald Green and center Theo Ratliff. The Timberwolves also would get a draft pick.
Neither team commented.
Garnett would become the third ex-MVP traded in the past three years, joining Shaquille O'Neal and Allen Iverson.
Garnett, 31, has spent all of his 12 seasons with Minnesota. He would get an extension of his contract, which has one year plus an option left.
The Celtics tried to get the 6-foot-11 forward last month, but his agent said he didn't want to go to Boston. Since then, Boston acquired seven-time All-Star guard Ray Allen to join Paul Pierce, another All-Star.
Garnett was the first player to jump from high school to the pros since the 1970s, taken fifth in 1995. Two years later, he signed a six-year, $126-million extension that led to the lockout in 1999 and big changes to the collective bargaining agreement.
In his second season, he led Minnesota to its first playoff appearance, the first of eight straight. In 2004, he won the league MVP, joining Larry Bird as the only players to average at least 20 points, 10 rebounds and five assists for five consecutive years, and led the Timberwolves to within two wins of the Finals.
But Minnesota, limited by the salary cap because of his contract, has not made the playoffs since and fired two coaches.
GRIZZLIES: Mike Conley, the fourth overall pick, signed. The former Ohio State star averaged 11.4 points, 5.2 assists and team-high 39.8 minutes in five summer league games.
LAKERS: Coby Karl, the son of Nuggets coach George, signed. Undrafted out of Boise State, the 6-foot-5 guard scored 12.2 points per game in five summer league games.
ROBBERIES: Police in Chicago said they are still looking for connections between recent robberies of the Knicks' Eddy Curry and Heat's Antoine Walker. Among other items, Walker lost his Mercedes-Benz sports car, which was recovered, and a $55,000 watch. Items lost by Curry were not disclosed.