From Marca.com (translation via HoopsHype):
David Kahn is in Spain “to help”, as he said. He is in Spain with agent Dan Fegan, who has deals with Minnesota companies -worth $4 million- in order to convince DKV Joventut to let the kid leave the Spanish club to the NBA.
I got ahold of David Kahn in Spain by text message this afternoon and asked him if the buyout has been agreed to or is done.

His answer:

No.

I asked for an update on his progress in talking with officials DKV Joventut since he landed in Spain yesterday.

“Nothing to say.”

The AP story quoted Rubio as saying, “”I want to continue with the club but, after everything that’s happened, I don’t think they’re too comfortable having me in their squad. I want to play in a winning team, on a team that can achieve many things.”

This sounds like it’s the first domino to fall in the chain of events that will lead to Rubio wearing a Wolves uniform.

From Kevin Arnovitz/TrueHoop:
# According to the report, “Spanish basketball clubs Real Madrid and Barcelona are both interested in signing Rubio if he cannot make it to the NBA this season.” Unlike the Timberwolves, who can’t kick in more than half a million dollars to Rubio’s buyout with Joventut, neither Real Madrid nor Barcelona are subject to that restraint. A team like Barcelona could work with Rubio to come up with agreeable terms to share the buyout, and Rubio could then join that squad.

# Rubio could still join Minnesota, and would stand to earn approximately $5.65 million over the first two years of his deal. Even with Minnesota contributing the maximum $500,000 to his buyout with Joventut, Rubio would essentially be playing for free until the summer of 2011. Still, Rubio might ultimately decide that playing in the Twin Cities represents his least unattractive option in the long term.
From Matt Watson/Fanhouse:
In the big picture, Rubio’s earning potential is undoubtedly greater should he become a star in the U.S., but in the short-term he’ll likely make more money by staying in Europe.
Jonah Ballow/Timberwolves site recaps the Timberwolves week in Vegas for Summer League.
Flynn capped off an exciting week with a highlight-reel windmill dunk in the closing minutes of the Chicago game. He also earned the T-Mobile NBA Rookie of the Month Award prior to the contest. Flynn averaged 15 points and 7.4 assists per game while shooting 48 percent from the field and 58 percent from the 3-point line. No. 11 is a sure bet, just be ready to double down on Flynn in 2009-10.

On being named Rookie of the Month: “It definitely feels good. It means that I’m getting acknowledged for the way I played out here. It means a lot of people took a liking to my game. I just don’t want to get complacent. I want to keep getting better and keep working on my game every day.”

On his plans before training camp: “I think I’m coming back out here August 2 for camp. A lot of us are coming back out. Me and Wayne (Ellington) are coming back out. Bobby Brown and I think a lot of the rookies throughout the league are coming back. That’s definitely in the plans. You’ve got the rookie transitions in New York City that’s mandatory to go to and then after that I think I might go to Cleveland and workout with LeBron James. It’s an eventful summer for me, but it’s all fun.”

Randy Hill/FoxSports ranks the Summer League rookies.
4. Jonny Flynn, point guard, Syracuse (Reality is No. 6 by the Minnesota Timberwolves): All four panel members insist they were this high on Flynn before the draft. I think at least two are lying.

“Our league is made for guys like him,” one scout said.