Tim Connelly has an opt out in his contract with the Minnesota Timberwolves after the 23-24 season.

Connelly was hired by the Wolves on a five-year, $40 million deal in 2022 with Marc Lore and Alex Rodriguez driving the decision that Glen Taylor signed off on.

Connelly's opt out was intended to line up with Lore and Rodriguez taking over ownership of the Wolves. The Wolves will likely finish as the No. 2 seed, while Connelly's former team, the Denver Nuggets, will be the No. 1 seed in the Western Conference barring an unexpected loss to either the San Antonio Spurs or Memphis Grizzlies. 

Lore and Rodriguez are expected to head toward litigation with Taylor after the incumbent owner of the Wolves claimed payment deadlines were not met.

Connelly could sign an extension with the Wolves, or possibly receive interest from rival teams.