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Apr 12, 2022; Minneapolis, Minnesota, USA; Minnesota Timberwolves co-minority owners Alex Rodriguez and Marc Lore celebrate a victory over the Los Angeles Clippers after a play-in game at Target Center. Nick Wosika-Imagn Images

Lore, Rodriguez hire new Timberwolves/Lynx CEO away from NHL power

Originally posted on Minnesota Timberwolves on SI
By Will Ragatz | Last updated Aug 27, 2025 10:29 AM ET

In their first major hire since taking over as controlling owners of the Minnesota Timberwolves and Lynx, Marc Lore and Alex Rodriguez have poached Florida Panthers president and CEO Matthew Caldwell to be their new CEO, as first reported by The Athletic's Jon Krawczynski and then announced by the franchise. They're giving Caldwell, who replaces the departed Ethan Casson, a 10-year contract to run their business operations.

Marc Lore and Alex Rodriguez have made their 1st big hire since taking over as owners of Wolves/Lynx. They are naming Florida Panthers Pres/CEO Matthew Caldwell as the team's new CEO. Most notably, Caldwell is getting a 10-year contract to run business operations in Minnesota.
— Jon Krawczynski (@JonKrawczynski) August 27, 2025

Caldwell comes from a Panthers team that has won back-to-back Stanley Cups and made it to each of the last three. CEO is a role that has less influence on team performance than, say, general manager, but he undoubtedly did have an impact on the Panthers' recent success. It certainly can't hurt that Caldwell has been with a franchise that has won at the highest level.

Casson had been the CEO of the Wolves and Lynx since 2016 until he stepped down in June, along with COO Ryan Tanke, after the ownership transition from Glen Taylor to Lore and Rodriguez was finalized. Casson has since been named the president of the Dallas Mavericks.

Caldwell takes over the role on September 2, according to the team's release. He will "oversee day-to-day business operations and high-level strategic initiatives for the Timberwolves, Lynx, and Iowa Wolves. .... Under Caldwell’s leadership, the organization will cultivate a strong, consistent culture defined by ingenuity, stability, and growth."

“I’m honored and humbled to join the Timberwolves and Lynx organization at such a pivotal moment in its history," Caldwell said in a statement. "I am inspired by Marc and Alex’s vision and passion for Minnesota basketball and their commitment to excellence. I look forward to making my mark across the organization, and to building a lasting foundation that gives Minnesota basketball fans what they deserve — the best experience in sports, bar none."

pic.twitter.com/uDkFi8rK7y
— Minnesota Timberwolves (@Timberwolves) August 27, 2025

Caldwell was named the Panthers' CEO in 2016 at age 36, making him the youngest CEO in U.S. pro sports at the time. He's a former VP at Goldman Sachs and a U.S. Army veteran.

"Our vision is for the Timberwolves and Lynx to set a new standard of excellence in pro sports and we’re confident that Matthew is the leader needed to make that a reality," Lore and Rodriguez said in a statement. "Leading our organization into an innovative new era requires an exceptional individual at the helm and Matthew’s proven track record leading the business of the Florida Panthers is undeniable. We can’t wait to see the remarkable impact his bold leadership will have on this organization."

Interim CEO Kelly Laferriere has been named as a senior advisor to ownership. Nothing changes about the basketball operations structure of the Timberwolves or Lynx.