While it was reported that Tim Connelly secured an equity stake in the Minnesota Timberwolves as part of his compensation package, sources tell Marc Stein of Substack that it is overstated.

Connelly's contract has an unspecified bonus based on the value of the franchise increasing over the term of his contract.

"As enticing as that still sounds as a contract clause, I'm told it's incorrect to assert that Connelly now holds an ownership stake in the Wolves," writes Stein.

Connelly signed a five-year, $40 million deal with the Wolves.

Devin Booker and Karl-Anthony Towns each have two years remaining on their current contracts but are now eligible to add more years and dollars to their deals. By virtue of being named to the All-NBA Team, both Booker and Towns qualify for so-called super max contract extensions as designated players.

The projected extensions would start with the 2024-25 seasons and carry a first-year salary of $47.1 million. In total, both Booker and Towns are eligible to add four years and nearly $211 million to their deals.

Booker was named to the All-NBA First Team at the guard position, while Towns was named to the All-NBA Third Team at the center position. Which team they made is irrelevant, as simply being named All-NBA is enough to qualify for the designated player status it takes to jump a salary tier.

The Minnesota Timberwolves hired Tim Connelly to run their front office, which puts the future of Sachin Gupta in doubt. 

Gupta became interim general manager of the Wolves after they fired Gersson Rosas before the start of the season.

The Wolves considered Gupta for the role permanently and sources tell The Athletic that he remains part of their long-term vision for the franchise. 

“Connelly will work closely with Timberwolves executive vice president of basketball operations Sachin Gupta, as well as head coach Chris Finch, whom Connelly worked with in Denver during the 2016-17 season,” the team said in a statement.

Finch publicly stumped for Gupta at the end of the season, but he also has a good relationship with Connelly. 

Tim Connelly has agreed to become President of Basketball Operations of the Minnesota Timberwolves on a five-year, $40 million deal with a kicker for ownership equity.

Connelly will leave the Denver Nuggets with Calvin Booth expected to replace him.

The Wolves had targeted one of the NBA's leading decision-makers for the role over the past few months.

The Nuggets tried to keep Connelly, but their offer was dramatically lower than Minnesota's. Only a handful of top league executives have ownership equity as part of their deals. 

The Minnesota Timberwolves have advanced to the next step of trying to lure Tim Connelly away from the Denver Nuggets. Connelly is reportedly traveling to Minnesota to meet with Wolves owner Glen Taylor this weekend.

Connelly has already had several conversations with Minnesota minority owners Marc Lore and Alex Rodriguez. Lore will take over majority ownership from Taylor in 2023 and would like to make a big splash with his basketball operations department. It's believed the Timberwolves are willing to put a very lucrative offer on the table to get Connelly to leave the Nuggets.

Minnesota dismissed Gersson Rosas in the preseason, and Sachin Gupta has led the basketball operations as the interim general manager since then. Now, the Timberwolves hope to have Connelly, who has a keen eye for talent and strong relationships around the NBA and with agents, leading their front office for years to come.

When the Minnesota Timberwolves began their search for a president of basketball operations, Mike Singer of the Denver Post reports they identified four potential candidates in Sam Presti, Masai Ujiri, Bob Myers and Tim Connelly.

Connelly was deemed the most "gettable" from a financial perspective. Connelly is in an option year of his contract.

Connelly also received strong interest in 2019 from the Washington Wizards. Connelly is originally from the Washington DC area.

Ujiri signed a contract extension with the Toronto Raptors in 2021 with a reported salary of $15 million per year. 

Myers signed a multi-year extension with the Golden State Warriors in 2019.

Presti's contract status is unknown and he has been linked with high profile jobs in the past, but he has not yet appeared close to leaving the Oklahoma City Thunder. 

Dane Moore reports that Daryl Morey was also on Minnesota's list while Pat Riley was on the original wish list. 

The Minnesota Timberwolves are in serious talks with Tim Connelly to become their President of Basketball Operations.

The Wolves received permission to speak with Connelly from the Denver Nuggets and the sides have moved beyond exploratory conversations.

No agreements have been reached and nothing appears imminent at this time.

Sachin Gupta, the Timberwolves’ executive vice president, remains a significant part of the organization’s long-term vision and is a candidate to continue overseeing basketball operations. The Wolves haven't ruled out the possibility of Gupta remaining in charge, but the talks with Connelly represent the possibility of hiring someone above Gupta. 

Minnesota Timberwolves center Karl-Anthony Towns was clearly hurting at the end of his team's first round series against the Memphis Grizzlies. The injuries were enough that Towns underwent several surgeries following his final game of the season.

Towns underwent stem cell treatment and platelet-rich plasma injections in both knees, his left ankle, left wrist and right middles finger on Friday. Towns chose to play through the injuries during the playoffs. He elected to have the procedures done now in hopes of being fully ready for training camp this fall.

Towns was dealing with pain in both knees, especially his right knee, which he wore a sleeve on during the playoffs. He also had a cyst in his left ankle, a subluxated left wrist with ligament damage and an aggravated joint on the middle finger of his right hand.

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D'Angelo Russell has one season remaining on his current contract at $31.4 million and "numerous rival teams expect" the Minnesota Timberwolves to try to trade him this offseason.

Russell was benched for an extended stretch of Minnesota's Game 6 loss. Russell averaged just 12.0 points per game on 33.3 percent shooting in the series.

Russell is known to have a close friendship with Karl-Anthony Towns.

Minnesota traded Andrew Wiggins and the future pick that became Jonathan Kuminga in 2020 in order to acquire Russell.