NEW YORK -- The Minnesota Timberwolves are getting back one of four first-round draft picks they lost last year for circumventing the NBA salary cap in the signing of Joe Smith.

"In light of the other penalties that have been imposed on the Timberwolves, and the team's conduct since the Smith matter concluded, we feel it is appropriate," NBA commissioner David Stern said Friday.

Stern reinstated the first-round pick for 2005. In addition to the forfeited pick for this year, Minnesota still will not have a first-round selection next year and in 2004. The Timberwolves also were fined $3.5 million, and team owner Glen Taylor and vice president Kevin McHale were forced to leave temporarily.

Smith returned to the Timberwolves this fall, signing a six-year contract totaling $34 million after a season-long sabbatical in Detroit following Stern's decision to void his contract with Minnesota.

Smith, the top pick in the 1995 draft by Golden State has averaged 14.2 points and 7.4 rebounds in the NBA. This season, he is averaging 13.0 points and 7.4 rebounds.