In the latest of a series of offseason moves, the Timberwolves waived guard Chucky Atkins on Tuesday.

The Wolves acquired Atkins, a 10-year NBA veteran, on July 27 as part of a trade with Oklahoma City. Like many of the moves new president David Kahn has made this summer, the acquisition was purely for financial reasons.

Atkins is in the final year of his contract for nearly $3.5 million. But the Timberwolves are only on the hook for the guaranteed portion of the deal, which is $760,000.

The 10-year veteran became expendable when the Wolves signed free agent point guard Ramon Sessions to a four-year deal earlier this month. Sessions and rookie Jonny Flynn figure to get the most minutes at point guard, with veteran Antonio Daniels also in the mix.

At the time, Kahn hinted that Atkins’ contract might soon be traded away for another piece of the proverbial puzzle. That never happened, and Tuesday they cashed in the $2.72 million savings themselves.

Also expect veteran center and former Timberwolf Mark Blount — and his $7.96 million expiring contract — to be waived in the next week.

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From Jon Krawczynski/AP Sports:Flynn Wishes Rubio Was In Minnesota
As disappointed as the Timberwolves are that Rubio will be staying in Spain for at least the next two seasons, Flynn had to be pleased with the side benefits, right? Not so fast.

“Especially for a guy like me, he can make me so much better,” Flynn told The Associated Press. “I would have sat here and learned from him. I would have taken things out of his game and put them into my game.

“You definitely lose something that could have made our team better. But that’s the decision he made and I guess we’re just going to have to wait for maybe two years until he comes over here.”