Nuggets president of basketball operations Tim Connelly is leaving for the same position with the Timberwolves, only at a much higher rate, as reported by Adrian Wojnarowski of ESPN.
Not only did Connelly agree to a five-year contract for $40 million, per Wojnarowski, but he is also receiving ownership equity.
Connelly met “extensively” with the Timberwolves ownership group of Glen Taylor, Alex Rodriguez and Marc Lore before deciding to leave the Nuggets, Wojnarowski wrote.
Connelly has been the head of basketball operations with the Nuggets since 2013, when he replaced current Raptors GM Masai Ujiri. As ESPN’s ESPN’s Adrian Wojnarowski wrote, Connelly had similar flirtations with the Wizards a couple years ago, but turned down an offer there.
This deal, however, was too good to pass up, it seemed.
“Nuggets governor Josh Kroenke made a bid to keep Connelly, sources said, but an offer that would’ve made Connelly one of the higher-paid league executives was still dwarfed by the Timberwolves’ massive offer,” Wojnarowski reported. “Only a handful of top league executives have ownership equity as a part of their deals.”