Jerry Zgoda of the Minneapolis Star Tribune reports:

Timberwolves will keep Darko Milicic

Less than 12 hours after the NBA’s free agency began, the Wolves followed last night’s agreement with European prospect Nikola Pekovic by agreeing to terms with Darko Milicic onĀ  a contract.

ESPN.com’s Chad Ford is reporting a four-year, $20 million deal, with the final year partially guaranteed.

Darko’s agent, Marc Cornstein, called his client “extremely excited this is in place.”

“Darko wanted to be there,” Cornstein said. “He felt like this is home from the moment he got there. Kurt Rambis has been fantastic for him. He’s resurrected his career. He has genuine belief in Darko as a player and a person.”