The Jazz remain in talks with restricted free-agent center Kyrylo Fesenko, who received a qualifying offer from the team earlier this offseason.

Mike James took a buyout from the Wizards in hopes that he'd sign with a playoff team.

James told ESPN.com's Chris Sheridan that he hopes to sign with the Jazz, a team he has long admired.

Sheridan also reports that the veteran guard has turned down offers to play in Europe.

After winning just 15 games in Minnesota last season, Al Jefferson is excited about his recent trade to Utah.

"They have a nice group of guys, but will have a couple more losing seasons," Jefferson said of the Timberwolves.

"Minneapolis is my home away from home. I respect the fans that have supported me through the good and the bad ... but when I told people I played for Minnesota, some people didn't even know they had a team. Everybody knows about Utah. Everyone knows the Utah Jazz.

"I go from being in a Toyota to a Bentley. It's a beautiful thing."

The Jazz acquired Jefferson from the Timberwolves for two first-round picks and young center Kostas Koufos.

Utah needed to make a move after losing Carlos Boozer to Chicago in free agency.

The Jazz have informed Wesley Matthews that they will not match the offer sheet he signed with the Blazers.

Utah has decided to sign Raja Bell to a three-year deal, worth $10 million.

Bell still needs to pass his physical, which is a contingency of their decision not to match.

Raja Bell has agreed to a three-year, $10 million deal with the Jazz.

The Lakers and Bulls were also interested in Bell.

The Jazz may soon be looking to fill the void left behind by Wesley Matthews, who signed a lucrative offer sheet with the Trail Blazers.

If they don't try to bring back Ronnie Brewer, who was dealt to the Grizzlies at midseason, they could turn their attention to Shannon Brown or Roger Mason Jr.

The Deseret News reports that Utah has interest in both Brown and Mason Jr.

Kyle Korver, who was introduced as the newest addition in Chicago on Tuesday, is trying to recruit Ronnie Brewer to join him.

Korver was lured to the Bulls by former Jazz teammate Carlos Boozer.

"[Boozer] reached out to me and we talked about it for sure," Korver said. "And I was texting Ronnie Brewer earlier, so we're trying to start the Chicago Jazz here. I don't know if you knew that."

If the Magic match the offer sheet J.J. Redick signed with the Bulls, Chicago is expected to go after Brewer.

The Utah Jazz announced today that the team has acquired center/forward Al Jefferson from the Minnesota Timberwolves in exchange for center Kosta Koufos, the Memphis Grizzlies' protected 2011 first-round pick (obtained by the Jazz a previous trade) and an additional future protected first-round pick.

"We are happy to acquire a young power player who has developed into one of the best low-post scorers in the league," said Jazz General Manager O'Connor. "We gave up significant assets to obtain Al and we look forward to watching him progress with our team."

Minnesota has sent Al Jefferson to the Utah Jazz for two future first-round draft picks and the salary-cap trade exception, according to a source.

Utah gained the trade exception in the sign-and-trade deal that sent Carlos Boozer to Chicago.

The Jazz have taken the lead in their pursuit of trading for Al Jefferson.

Sources told ESPN.com that the Jazz and Timberwolves are engaged in serious discussions on a deal that would slot Jefferson's contract into the $14 million trade exception.

Minnesota wants multiple first round picks and no additional salary in exchange for Jefferson.

The Dallas Mavericks were widely believed to be the most serious suitor for Jefferson in recent days, but the sides have been unable to agree on the terms of a deal.