Tim Connelly Deal With Timberwolves Includes Ownership Equity

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.Tim Connelly

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.”

GM Calvin Booth is expected to replace Connelly as head of basketball operations in Denver, as we relayed earlier.

Looking for the latest NBA Insider News & Rumors?

Be sure to follow Hoops Wire on TWITTER and FACEBOOK for breaking NBA News and Rumors for all 32 teams!

Leave a Reply