Kevin Garnett is going home to Minnesota. KG has agreed to waive his no-trade clause, and Brooklyn is trading the legendary power forward to the Wolves in exchange for Thaddeus Young. Awesome.

From David Aldridge of TNT and NBA.com, via Twitter:

UPDATE (4:15 p.m. ET): Sounds like the Wolves want KG around for a while. Not only does Minnesota want him this year, but they hope to sign Garnett to a 2-year extension. From the AP’s Jon Krawczynski, via Twitter: