From Jason Quick of the Oregonian (which covers where Brandon Roy used to play):

Brandon Roy has come to a verbal agreement with Minnesota according to a person in Roy's family...Don't know the details on Roy's agreement

This hasn't been confirmed from another report yet [Update: Alex Kennedy of Hoopsworld has it at 2 years, $10m to Minnesota]. David Aldridge did speak with Roy's agent though, and gave Bulls fans enough information:

Finalists are Dallas, GS, Minny, Indy & Cleveland. Chicago out.

The Bulls were once a finalist, if you remember. What the Bulls don't have in common with the remaining franchises is (likely) being limited to the Mini-MLE. Guess some guys really do need the money.

I would've really liked Roy on a contract for even less, but that was never really possible and I never thought the Bulls were that serious of a 'suitor'. With Rip Hamilton already having the trainer's table named after him, it's better to focus on guys who can play a lot of minutes. I'd say the Bulls had us goin' there for a minute, but I don't think they even managed that much 'buzz'.

[Hey, look below, I posted something earlier tonight]