News of the trade was reported at the start of the draft. ESPN.com later reported Butler has been told of the trade.
MORE: NBA Draft tracker | Trade tracker
Dunn was the No. 5 pick in last year’s draft out of Providence. LaVine, a first-rounder of the T-wolves in 2014 out of UCLA, is coming off an ACL injury.
Butler played in Chicago for current Timberwolves coach Tom Thibodeau.