The Minnesota Timberwolves are moving to retain president of basketball operations Tim Connelly on a contract extension, team sources told The Athletic. Connelly enters the final year of his current deal following Minnesota's second-round exit against the San Antonio Spurs.

Despite being considered a candidate for the top basketball operations role in Dallas, there were no actual discussions between Connelly and the Mavericks before the franchise hired Masai Ujiri, team sources said.

General manager Matt Lloyd, who works directly under Connelly, came close to departing as well. Lloyd interviewed as a finalist for the Chicago Bulls' lead executive position but was passed over when the Bulls hired Bryson Graham from Atlanta.

Lloyd's decision to remain with Minnesota was welcomed throughout the organization. He is a well-regarded figure on both the basketball and business sides of the operation, and his continued presence has lifted the spirits of staff across departments.

Connelly and Lloyd are widely respected throughout the league. Their partnership has produced blockbuster trades for Rudy Gobert, Julius Randle, Donte DiVincenzo and Ayo Dosunmu, along with smaller but impactful acquisitions of Mike Conley and Nickeil Alexander-Walker.

Chris Finch has two years remaining on his contract and will return for a sixth full season. Minnesota's front office is expected to return intact, a meaningful source of organizational continuity as the Wolves face a challenging offseason with significant roster decisions ahead.

Connelly will enter extension talks with ownership firmly behind him despite three consecutive second-round exits and a widening gap in the Western Conference standings.