According to Dana Wessell of ESPN Twin Cities, Kahn called an impromptu press conference on Friday and said that the Timberwolves had no interest in a possible trade for Gasol. About 20 minutes before the game day shoot-around, the team announced Kahn would be speaking.
As noted by Wessell, the timing of the session was odd. The fact that Kahn came out to deny the rumors as opposed to just letting them be implies that he was trying to save face for some reason. There's plenty of speculation both ways, but the impromptu press conference does bring up a lot of questions.
Gasol was linked to the Timberwolves last offseason, when Derrick Williams was reportedly offered up in a package to acquire him.