Tim Connelly Agrees to Contract Restructure with Timberwolves

The Minnesota Timberwolves will be running it back next year, at least in their front office. Tuesday night, news broke via The Athletic that the Wolves had agreed to a restructured contract with president of basketball operations, Tim Connelly, which moves his opt-out clause to next offseason.

Minnesota Timberwolves, Tim Connelly restructure his PoBO contract

After run to the Western Conference Finals, the Minnesota Timberwolves and president Tim Connelly have agreed to a restructured contract, locking him in for the 2024-25 season, sources tell me and @JonKrawczynski. Connelly’s opt-out clause has been moved to next year. pic.twitter.com/wJIfjXRCrD

— Shams Charania (@ShamsCharania) June 5, 2024

Details have not yet released on what Tim Connelly’s restructured deal will pay him next season but we do know he was making $8 million per year and he is worth as much as $15 million on the open market.

Well, not this open market. Once the Detroit Pistons hired their new president of basketball operations, options for Connelly had he decided to opt out of his contract this offseason quickly dried up, which is another reason why this restructured contract makes sense.

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Obviously, this restructure is about kicking the can down the road. Tim is an A-Rod + Marc Lore guy. If it weren’t for those two then he would not be running the basketball operations department for this franchise.

This new deal will allow the ownership battle to play out, then he will have one more year in charge, before he needs to make a decision on whether or not to leave. Only time will tell how this all unfolds but, for now, Tim Connelly will remain with the Minnesota Timberwolves.