MINNEAPOLIS — The Minnesota Timberwolves have waived veteran point guard Chucky Atkins.

Atkins was acquired in a trade with Oklahoma City in July. But like many of the moves new president David Kahn has made this summer, the acquisition was purely for financial reasons.
Atkins is in the final year of his contract for nearly $3.5 million. But the Timberwolves are only on the hook for the guaranteed portion of the deal, which is $760,000.
The 10-year veteran became expendable when the Wolves signed free agent point guard Ramon Sessions to a four-year deal earlier this month. Sessions and rookie Jonny Flynn figure to get the most minutes at point guard, with veteran Antonio Daniels also in the mix.