After a week or so of various rumors potentially tying Denver Nuggets president Tim Connelly to the Minnesota Timberwolves, reports surfaced Monday afternoon that confirmed a deal had officially been struck between the two sides:
ESPN Sources: Denver Nuggets President Tim Connelly has agreed to a deal with the Minnesota Timberwolves that’ll make him one of the NBA’s highest compensated executives. Significant coup for Minnesota franchise.
— Adrian Wojnarowski (@wojespn) May 23, 2022
Woj went onto report that the agreement between Connelly and the Timberwolves was expected to be a 5-year, $40M-plus deal that includes ownership equity.