Minnesota Timberwolves’ fith overall pick in June’s draft, Ricky Rubio, has reportedly backed out of his rookie deal, just 48 hours after reaching a verbal agreement with the team. Instead of signing with the Wolves, the 18-year-old point guard told the team he plans to stay in Spain for two years to become more prepared for the NBA.

“The reason leading me to take this next step is to have a period of preparation to better take the challenge of the NBA in better conditions as a player,” Rubio said in a statement. Read the rest of this entry »