Minnesota opens training camp on Tuesday and would like to have a solution before it starts, preferably with the 40-year-old Garnett electing to retire.
Garnett is entering the final season of his contract and hasn't given the Timberwolves an answer on which direction he is leaning. He has spent 13 1/2 of his 21 NBA seasons with Minnesota.
The 15-time All-Star ranks 17th in NBA history with 26,071 career points, ninth in career rebounds with 14,662 and 17th in career blocked shots with 2,037.
Garnett played in just 38 games last season due to knee and leg injuries and averaged just 3.2 points and 3.9 rebounds. His current value lies more in terms of being a mentor for young stars Karl-Anthony Towns and Andrew Wiggins than for his production.
The Timberwolves hired Tom Thibodeau as coach and president in the offseason as well as a new general manager in Scott Layden. The duo is charged with completing the rebuilding process and halting a playoff absence that dates back to the 2003-04 campaign.
Garnett was drafted fifth overall out of high school in 1995 and quickly blossomed into a major star and franchise icon. He averaged over 20 points in nine consecutive seasons and earned MVP honors in 2003-04 when he averaged 24.2 points and 13.9 rebounds.
Garnett was traded to the Boston Celtics in 2007 and was part of that franchise's 2008 championship squad.
Garnett returned to Minnesota prior to the trading deadline in 2015 when he was acquired from the Brooklyn Nets. He played in just five games prior to the end of the season.
Upon returning to Minnesota, Garnett spoke of his desire to become part owner of the team once his playing career again. But last year's death of Flip Saunders, the coach and president of basketball operations, began a transformation that now has Thibodeau and Layden shaping the future.