Report: Wolves' Tim Connelly opting into final two years of contract

Timberwolves president of basketball operations Tim Connelly has opted into the final two years of his contract, according to The Athletic's Jon Krawczynski. Connelly had an out in his contract that he could have triggered this summer, but instead he is opting to continue on the deal he signed with the organization in the summer of 2022, when he came over from the Denver Nuggets.

Connelly, 49, has been instrumental in configuring a Wolves roster that has reached the Western Conference Finals in each of the last two seasons. Hiring Connelly was one of the first major changes Wolves owners Alex Rodriguez and Marc Lore made when they first came on board as co-owners with Glen Taylor.

Following the 2023-24 season, Connelly could have triggered the out in his contract but instead chose to push it back a year to see what would happen with the Wolves' ownership situation. The opt-out was something Connelly negotiated into his contract due to the uncertainty around the Wolves' ownership situation at the time. Rodriguez and Lore won the ownership battle this year, and have since continued to make significant changes to the structure of the organization. They now see their first prized hire committing his future to the organization.

Subscribe: Sign up for the free Timberwolves On SI newsletter

Since taking over, Connelly has made several significant moves. He traded for Rudy Gobert in 2022, which helped shore up the Wolves' defense. Weeks before the 2024-25 season, Connelly executed a blockbuster trade that sent longtime Wolves big man Karl-Anthony Towns to the Knicks, bringing back Julius Randle and Donte DiVincenzo.

Despite Connelly opting into the remaining two years of his contract, Krawczynski reported that the organization and Connelly are working on a longer-term extension to keep him here for the foreseeable future.

Recommended reading