The Portland Trail Blazers matched the offer sheet given to restricted free agent Nicolas Batum on Wednesday.
Blazers general manager Neil Olshey told reporters at the Las Vegas Summer League that they will honor the four-year deal worth $46.5 million given to Batum by the Minnesota Timberwolves.
Batum averaged 13.9 points last season with Portland.
The T-Wolves had been trying to arrange a trade with Portland to acquire Batum. They offered as many as three future first-round draft picks and small forward Derrick Williams.
The Trail Blazers refused to make a deal, although sources told ESPN.com that the Blazers believe Minnesota's offer sheet was for far more than Batum was worth.
Batum has been trying to leave Portland since last winter, when the Blazers offered him an extension that averaged $5 million per year, according to the report.