If Rasheed agrees to retire, I can see Minnesota or Washington taking on his deal in return for cash or a draft pick. If Rasheed then retired (rather than taking a buyout), they'd be in the exact same position, but would have extra cash / picks.
One thing to remember about buyouts: since Rasheed has two years left on his deal, the buyout will be spread over two seasons, I believe, in terms of a cap hit. (However, Rasheed may be able to decline his option in advance, if a team would like to have the hit in only one year. I haven't researched whether this is possible.)
I'm hoping Minnesota will part with Corey Brewer, not a draft pick.
Minny wouldn't be sending US an asset, we'd be sending them an asset. They wouldn't be gaining any additional cap space or really receiving any benefit at all from receiving 'Sheed's contract and having him technically expire as a Timberwolf. We'd send them a second-round pick and/or cash to give them a reason to help us out.
The only way Brewer would be coming back is as part of a bigger deal or if they're looking for a pure salary dump. Maybe if we sent them a first rounder, they'd do it, not sure if I'd want to do that though.
I'd throw in a pick. They might be willing to let him go because they have a logjam at his position. Plus, he's a restricted free agent after this year and he might get offers bigger than Minny is willing to match. If someone offers him say $4mil, I don't think they match. They might want to get something for him now.
I might do that, I might not. Not sure if Brewer's worth a first-rounder (which I'm assuming would be ~#20 for us; not a terrible pick).
Maybe if they did a pick-swap, they give us their second-rounder and we give them a first, that would likely result in them moving up ten or fifteen picks.
We'd still pick up a small (~$3.5M) trade exception. Probably too small to be much good.
'Sheed and a first-rounder for Brewer and their second-rounder?