Charania reports that Butler provided the Timberwolves with a list of between one and three teams he would be willing to sign an extension with, presumably increasing the return the Timberwolves could receive in a deal.
Butler, 29, will be a free agent at the end of the 2018-19 season.
Butler reportedly informed Tom Thibodeau of his desire on Tuesday. His front office traded Zach LaVine, Kris Dunn and the rights to Lauri Markkanen for Butler and the rights to Justin Patton on the day of the 2017 NBA Draft.
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The Thibodeau-Butler meeting was expected to be a serious conversation on the franchise's fragile state, sources said.
The rift between Butler and Timberwolves' All-Star center Karl-Anthony Towns, as well as Andrew Wiggins, seems to be a major reason why Butler is likely to be traded before the start of the season.
That happened, sort of, as the Wolves won 47 games and landed the eighth and final playoff seed in the Western Conference before bowing out to the top-seeded Houston Rockets in just five games in the first round.
The Wolves acquired Butler in a trade with the Chicago Bulls just last June in a deal that appeared extremely lopsided in Minnesota's favor at the time.