J.J. Barea is reportedly going back to Dallas.    (USATSI)
J.J. Barea is reportedly going back to Dallas. (USATSI)

UPDATE: 

The Mavericks will indeed sign J.J. Barea and release guard Gal Mekel to make room for him, per the Deseret News' Jody Genessy

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ESPN first reported Sunday that the Minnesota Timberwolves are finalizing a buyout with guard J.J. Barea, and Wolves president and head coach Flip Saunders confirmed it on Monday. The Minneapolis Star-Tribune added some context to the situation: 

What it likely came down to is this: Flip Saunders wanted Barea on the team and envisioned a role for him, but it wasn't one in which he could guarantee Barea playing time every game.

Barea told me Friday he saw a role for him here but said he wants to play every game.

Inevitably, the two sides probably decided that neither be happy with the role Flip envisioned, hence the decision to pay off probably most of Barea's $4.5 million due this season.

via Roster decision: Wolves finalizing Barea buyout | On the Wolves | StarTribune.com

So if Barea doesn't want to play in Minnesota, where would he want to go? Funny you should ask: 

Barea, Tyson Chandler... the Mavericks are getting the band back together! Go trade for JET! Find out where Brian Cardinal is! Let's dig up DeShawn Stevenson!

The Mavericks are close to being locked up with guaranteed contracts and would have to waive someone to make room for him. They are short on two-guards, though Barea himself is short. The're stocked at point guard but could use a veteran playmaker and Barea had his best years under Rick Carlisle. Bare drove Wolves fans crazy but it's a lot different when he's in a stricter hierarchy of quality players like he would be in Dallas. 

Then again, this only indicates that Barea wants to go back, not that Dallas wants him. 

So if not Dallas, then who? 

Well... you know... the Lakers do need a point guard...