Timberwolves exercise 3rd-year options on Ricky Rubio, Derrick Williams

The Minnesota Timberwolves have picked up third-year options on guard Ricky Rubio and forward Derrick WIlliams,according to announcement made by the team on Tuesday.

Rubio finished second in last year's Rookie of the Year voting and averaged 10.6 points, 4.2 rebounds and 8.2 assists in 41 games for the Wolves during the 2011-12 season. The 22-year-old point guard is working his way back from reconstructive knee surgery and is expected to miss the first week or two of the 2012-13 season.

Williams, the second overall pick of the Wolves in the 2011 NBA Draft, averaged 8.8 points and 4.7 rebounds in 66 games for Minnesota last season. He finished fifth in rebounding among rookies and seventh in scoring. The 21-year old is expected to split time at power forward with Dante Cunningham until Kevin Love returns from a hand injury as well as see some time at small forward behind Andrei Kirilenko.

The Wolves open regular season play on Friday, Nov. 2 against the Sacramento Kings. Tipoff is scheduled for 8 p.m. ET.

This story originally appeared at SB Nation.