Nuggets president Connelly joining T-Wolves on reported 5-year, $40M deal

The Minnesota Timberwolves reached an agreement with Denver Nuggets president Tim Connelly to become Minnesota's new president of basketball operations, the Timberwolves announced on Monday.

Connelly's new contract will pay him $40 million over five years and contains a kicker for ownership equity, sources tell The Athletic's Shams Charania and Jon Krawczynski.

"My family and I couldn't be more excited to join the Timberwolves organization," Connelly said through a statement. "I appreciate Glen, Becky, Marc, and Alex's confidence in me to lead this organization and I can't wait to get to work to build an elite franchise that our fans can continue to be proud of."

Connelly's deal with Minnesota will reportedly make him one of the highest-paid executives in the NBA. The Timberwolves offered him over double the salary he was earning in Denver, sources told Charania and Krawczynski.

After taking over day-to-day duties in Denver in June 2013, Connelly began assembling the franchise's core pieces that eventually transformed the team into the perennial playoff contender it is today.

Connelly's most significant move was the 41st overall selection of eventual two-time MVP Nikola Jokic in 2014. However, he was also responsible for taking Jamal Murray with the No. 7 pick in 2016. He also took rising guard Bones Hyland 26th overall in 2021 and drafted Michael Porter Jr. at No. 14 in 2018.