Minnesota Timberwolves president David Kahn says “no team in any league has reached a deal” on a buyout for Spanish point guard Ricky Rubio (FSY).

A Spanish media report circulated earlier Wednesday said that Regal Barcelona had reached a buyout agreement with Rubio’s team, DKV Joventut. The report said Rubio would sign a six-year deal with the team that included an affordable buyout in 2011 that would allow him to come to the NBA.

But Kahn issued a statement Wednesday afternoon saying no deal has been reached.

There is no deal done with Regal Barcelona for Ricky Rubio, a source with direct knowledge of talks tells Y! Sports.
From Chris Mannix/SI.com:
While the 18-year-old point guard is believed to be negotiating with multiple European teams, his first choice remains playing in the NBA this season. However, Rubio’s buyout with DKV Joventut — believed to be $4.9 million, only $500,000 of which can be paid by the Timberwolves — has made negotiations difficult. If Rubio were to pay $4.4 million for his release, he effectively would be playing his first two seasons in the NBA for free. According to sources, Rubio’s U.S. representatitve, Dan Fegan, and Joventut have made progress on reducing the buyout, but no deal is close.

Further, there is a belief in NBA circles that Regal Barcelona put out that it had reached a deal with Rubio in an effort to pressure Joventut to agree to a buyout.

While there remains a strong possibility that Ricky Rubio will play in Spain rather than Minneapolis next season, a Spanish media report Wednesday of his agreeing to a six-year deal with FC Barcelona was overstated, a knowledgeable NBA source told ESPN.com.

The Spanish newspaper Marca said Regal FC Barcelona had agreed to pay Rubio’s former team, DKV Joventut, 3.7 million Euros ($5.28 million) for the rights to the 18-year-old playmaker who was taken by the Minnesota Timberwolves with the fifth pick of last June’s NBA draft.

“Ricky Rubio hasn’t signed anything. Joventut hasn’t accepted anything. It’s not over yet,” said the source, who was briefed early Wednesday on the ever-changing landscape of the protracted, trans-Atlantic Rubio saga.

Spanish media reports say Ricky Rubio is set to sign a 6-year deal with Regal Barcelona that will include a buyout clause that would bring him to the NBA and the Timberwolves in 2011. If it comes to pass, Rubio’s transfer from DKV Joventut to Barcelona will be the most expensive buyout ($5.3 million) in Europe history.