The Minnesota Timberwolves have hired Tim Connelly as their new president of basketball operations, the team announced on Monday. Currently the president of basketball operations for the Denver Nuggets, the basketball executive will join the Wolves on a five-year deal worth over $40 million.
While the specific terms of the contract are yet to be shared publicly, the deal is expected to make Connelly one of the highest-paid executives in the NBA.
Connelly’s appointment is a major step in the Wolves’ plan to develop a stable leadership structure. He met with Timberwolves minority owners Marc Lore and Alex Rodriguez last week to discuss the role and had one final meeting with majority owner Glen Taylor prior to signing the deal.
“My family and I couldn’t be more excited to join the Timberwolves organization”, Connelly stated following the conclusion of the deal. “I appreciate Glen, Becky, Marc, and Alex’s confidence in me to lead this organization and I can’t wait to get to work to build an elite franchise that our fans can continue to be proud of.”
While the Nuggets offered Connelly a significant pay increase in a last-ditch effort to keep him at the franchise, this offer still paled in comparison to the Wolves’ contract.
