The Timberwolves are declining Phillips' $2.41 million team option for the 2026-27 season, Michael Scotto of USA Today reports.
Phillips spent the first two-and-a-half years of his NBA career with the Bulls before being traded to the Timberwolves in February. He served in a minor role off the bench for both teams and was limited to garbage-time minutes during Minnesota's playoff run. Once free agency officially begins, Phillips will have the opportunity to catch on with a team looking for depth on the wing.