Tim Connelly Expected to Sign New Deal with Minnesota Timberwolves

Tim Connelly, the president of basketball operations for the Minnesota Timberwolves, is expected to stay in Minnesota for the long haul, putting an end to much speculation about his future.

According to Shams Charania of The Athletic and FanDuel TV, Tim Connelly is expected to restructure his contract, securing a higher salary and extending his tenure in Minnesota for several more years.

Shams: "The expectation around the league, I'm told, is that Tim Connelly will end up in a restructured deal, a renegotiated deal [in Minnesota]." #WolvesBack pic.twitter.com/tAZV8LnYLy

— Minnesota Sports Fan (@realmnsportsfan) June 3, 2024

“The expectation around the league, I’m told, is that Tim Connelly will end up in a restructured deal, a renegotiated deal. Whether it’s Glen Taylor, Alex Rodriguez, Mark Lore, they understand his market value has gone up. He helped architect the team that won it in Denver. Then this team in Minnesota becomes a championship contender. And his deal is at $8 million per season.

You look around the league at all the top tier general managers, executives who are leading franchises, that’s now between $10 to $15 million per season, for those lead executives. Just like the coaching contracts, GM contracts are going up as So I would expect Tim Connelly, I think everyone around the league expects Tim Connelly to get a new deal in Minnesota.”

Shams Charania – FanDuel TV

Connelly’s new deal will see him earning up to $15 million annually. When he initially joined the Timberwolves, he signed a five-year contract worth $40 million, which paid him $8 million per year. His new salary nearly doubles that amount.

Connelly is widely regarded as one of the top general managers in the league. He built the championship-winning Denver Nuggets roster before moving on to Minnesota.

Related: Glen Taylor Expected to Hold Final Say on Timberwolves Offseason

Connelly pulled off one of the league’s most significant trades by acquiring Rudy Gobert. Later, he brought in Mike Conley, moves that propelled the Timberwolves to the Western Conference Finals for just the second time in the franchise’s history.

Shams also went into the ownership battle happening behind the scenes with the Minnesota Timberwolves right now. He said an arbitration date isn’t expected to be set until August or September, which confirms reports from last week that Glen Taylor will be the owner during this very important offseason.

“Glen Taylor, we know about that ownership battle right now. There’s a war going on behind the scenes, Glen Taylor against Alex Rodriguez and Marc Lore. I’m told that they’re going to figure out a date for their official arbitration to figure out the future owner, of the Timberwolves.

It’ll be sometime this week. They’ll find a date. I expect that arbitration date to be sometime in August or September, where they’re going to work to decide who the actual owner is going to be, moving forward. But the other big thing is Tim Connelly has an opt out in his contract. He has some days here to make a decision on his option.”

Shams Charania – FanDuel TV

No matter how the ownership “war” plays out, though, it appears that, after much speculation regarding his possible departure, Tim Connelly has decided to stay with the team. Regardless of the owner, it sounds like he will continue to build upon the roster he has transformed into NBA title contenders for years to come.