The Minnesota Timberwolves have swung one trade today in advance of the NBA’s 2 p.m. deadline.

The Sacramento Bee, citing two league sources, reported that Minnesota has agreed to send guard Rashad McCants and center Calvin Booth to the Kings in exchange for forward Shelden Williams and point guard Bobby Brown.
From the Star Tribune:
The Timberwolves are awaiting NBA approval on a deal that would send Rashad McCants to Sacramento for former top-five draft pick Shelden Williams, a forward, and point guard Bobby Brown.

McCants, who has gone from starter, to bench player, to non-factor and everywhere in between during his four seasons in Minnesota, will be sent to Sacramento along with Calvin Booth, whom the Wolves acquired in the offseason from Philadelphia.
The Minnesota Timberwolves have agreed to trade guard Rashad McCants to the Sacramento Kings for forward Sheldon Williams in a swap of disappointing lottery picks, two people with knowledge of the deal told The Associated Press.

UPDATE:
Matt (MN): Any news of the Timberwolves? Or are we just waiting for the lottery?
Chad Ford: (12:24 PM ET ) They made a small trade today of Rashad McCants and Calvin Booth in return for Shelden Williams and Bobby Brown. It’s a good trade for the Wolves. They are also talking to several teams about Jason Collin’s expiring contract.
Sources close to both the Bulls and the Timberwolves told ESPN.com late Wednesday night that Kirk Hinrich trade talks had fallen apart…
Another source says the Wolves’ unwillingness to include their first-round pick killed the deal. A third says the Wolves insisted on excluding Jason Collins from the deal and instead wanted the Bulls to take a combo of Brian Cardinal and Mark Madsen, two players with a full year left on their contracts. Finally, two of the three sources said there was still a small possibility that trade talks could be rekindled Thursday.

Sources say the Wolves are pursuing several other smaller deals with their two expiring contracts — Collins and Rashad McCants.
The Kings have agreed on a trade to send forward Shelden Williams and point guard Bobby Brown to Minnesota in exchange for fourth-year guard Rashad McCants and veteran big man Calvin Booth, according to two league sources.
On the financial front, the deal – which is done but pending league approval – takes the Kings off the hook for the $736,420 owed to Brown next season (player option) while giving them two players who have expiring contracts in McCants ($2.6 million, restricted free agent this summer) and Booth ($1.1 million)…
With Williams and Brown leaving Sacramento, they become the latest Kings experiments that simply didn’t pay off. Brown was signed last summer as a hot commodity, an undrafted point guard out of Cal State Fullerton who played one season in Germany and drew league-wide interest during July’s summer league in Las Vegas in which he flourished while playing wtih New Orleans. Yet even with Kings starting point guard Beno Udrih struggling this season, Brown didn’t pan out as Kings basketball president Geoff Petrie had hoped.