The Timberwolves are reportedly looking to create a sign and trade deal to acquire Eric Bledsoe

Nearly three years ago, former Minnesota Timberwolves general manager David Kahn signed Kevin Love to just a four-year contract extension with an option for Love to opt out after three seasons. The move angered Love, despite the Minnesota front office’s protestations to the contrary, while pushing the working talking point that the team needed to preserve eventual cap space in order to sign point guard Ricky Rubio to a future contract extension.

Now, with Love gone and the Timberwolves franchise working both a new front office and 10-year playoff drought, the Wolves are reportedly attempting to trade and sign for … a new point guard. Rubio, to date, has yet to receive that contract extension.

Earlier on Friday, a local Phoenix sportscaster dropped this notice out of nowhere:

Later on, ESPN’s Brian Windhorst revealed more:

So.

The Wolves received a little payroll relief in trading Love, but because the prospects they received in return (Andrew Wiggins and Anthony Bennett) were both top overall NBA draft picks, their rookie contracts are on the larger side of things and the Timberwolves are still over the cap. Minnesota was able to dump Alexey Shved and Luc Mbah a Moute in the deal, but they also took on Thaddeus Young’s two years and $19.3 million left on his contract.

As a result, a sign and trade will have to take place in order for Minnesota to clear up enough cap space to bring Bledsoe in under those terms. And though Phoenix is in the same position as the Timberwolves as they stand outside the Western playoff bracket, it’s hard to believe that they’ll be terribly interested in some of the bigger contracts the Wolves would likely have to send back to match Bledsoe’s new salary. Kevin Martin would kind of work well as a Bledsoe replacement in coach Jeff Hornacek’s offense, but not at three years and over $22 million. Nikola Pekovic has his charms, but at four years and $48 million?

Now, we’ve discussed the idea that Eric Bledsoe and Greg Monroe might be the first in the NBA’s recent line of uneasy restricted free agents that may carry over some enmity toward the teams that are holding them at arm’s length, and using restricted free agency to their benefit (Monroe eventually signed for the qualifying offer). It’s still true that the Suns have no reason to acquiesce to Bledsoe’s hopes for a max contract – both in basketball (he has his growing pains, and injury-filled past) and business (why bid against yourself?) terms.

Eric Bledsoe’s pretty good, though. And there’s a good chance he’ll become pretty great. Bledsoe may be more than familiar with how restricted free agency works, but that doesn’t mean he can’t be angry with how the Suns are playing this out. Bledsoe’s value, because of the market and his restricted free agency, is more or less his $3.7 million qualifying offer that he and the Suns can agree on. His value in a vacuum, however, is far closer to that maximum offer he’s after.

Weird setup, this.

As if things weren’t confusing enough, the voice to listen to On All Things Minnesota-y and Timberwolves-y, Associated Press reporter Jon Krawczynski, dropped this after the similarly plugged-in Windhorst’s report:

And then this:

So we’re just as confused in September as we were in July. Or even November.

(Bledsoe, Rubio, Wiggins, Bennett, and Zach LaVine sounded pretty sweet for a while, though. At least we were able to count on that fantasy, in the interim.)

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Kelly Dwyer

is an editor for Ball Don't Lie on Yahoo Sports. Have a tip? Email him at KDonhoops@yahoo.com or follow him on Twitter! Follow @KDonhoops