Tim Connelly Rumors | Hoops Rumors

Arbitration Hearing To Decide Timberwolves’ Ownership Dispute Begins

November 4th, 2024 at 6:38pm CST by Dana Gauruder

The arbitration hearing to decide the Timberwolves’ ownership dispute began on Monday and is expected to last most of the week. The decision by the three-person arbitration panel is expected to be announced next month, according to ESPN’s Brian Windhorst.

The dispute between minority owners Marc Lore and Alex Rodriguez and principal owner Glen Taylor moved to arbitration in July. A one-day mediation in the spring failed to make any progress, Windhorst writes.

The dispute has been ongoing since the tail end of last season. Taylor nixed the previous tiered payment agreement with Lore and Rodriguez, citing a breach of contract and a failure to meet a payment deadline. Lore and Rodriguez disputed that characterization, stating that they had the funds necessary to become majority owners but were awaiting NBA approval and should have been entitled to an extension.

The third payment in dispute would increase Lore and Rodriguez’ share from 36% to about 80% and the purchase agreement stipulates that they could buy out Taylor’s remaining 20% stake anytime before March 2025.

Windhorst and The Athletic’s Jon Krawczynski provided more details of the process:

If the arbitration panel rules in Taylor’s favor, the process essentially ends. Lore and Rodriguez could remain as limited partners or try to sell their shares. Taylor would have to approve the sale of their shares, according to Krawczynski. However, if Lore and Rodriguez get a favorable ruling. Taylor would be contractually compelled to sell them the controlling share for the previously agreed upon $1.5 billion valuation. The franchise’s value is substantially higher now, which is a major factor in Taylor’s decision to try to halt the sale. Lore and Rodriguez would still need 23 of 30 votes from the league’s owners to finalize the acquisition, since all team percentage transfers are subject to a vote, Windhorst notes.
Those transfer rules could present a sticky situation, due to Taylor’s long-standing relationships with the other owners and commissioner Adam Silver. There have been plenty of back-scene developments due to that possibility, according to Windhorst. Lore and Rodriguez have worked to meet with owners and the league office in recent months to demonstrate their position and attempt to shore up support in the event of a vote. It’s likely that Silver and BOG chairman Larry Tanenbaum will try to build a consensus in lieu of an owners’ vote.
Lore and Rodriguez have been firming up their finances by recruiting billionaires Michael Bloomberg, the former mayor of New York, and Eric Schmidt, the former CEO of Google, as well as private equity firm Dyal Homecourt Partners. They have amassed $950MM in an escrow account for not just the 40% needed to take majority control, but enough to give them 100% ownership of the team.
The team is facing a luxury tax bill of $100MM and total operating losses of more than $150MM this season, according to Krawczynski. That’s one reason why the Timberwolves moved Karl-Anthony Towns in a blockbuster trade with the Knicks.
Team president Tim Connelly could have opted out of his contract this year but agreed to defer the opt-out until the 2025 offseason. If he doesn’t like the direction the way things are going, he could choose to opt out this time around, regardless of who’s running the franchise at that time.

Knicks Notes: Hart, Bridges, Towns, Payne

October 19th, 2024 at 8:28pm CST by Arthur Hill

Josh Hart played an important role in the Knicks‘ playoff run, but now he’s trying to figure out how he fits into the team’s revamped lineup, writes Steve Popper of The New York Post. Offseason trades for Mikal Bridges and Karl-Anthony Towns have raised the talent level, but it may take some time for all the pieces to come together.

“There’s a couple days we have until Boston (in the season opener),” Hart said after Friday’s preseason loss to Washington. “So whether that’s trying to get a rhythm with that starting unit or we give somebody else a look and my role changes and comes off the bench and go with that unit. So just trying to figure out right now; I pretty much have no idea. But we’ll see what happens in Boston.’’

It’s been a particularly rough adjustment for Hart, whose first quarter layup on Friday night represented his only points in four preseason games. He took just seven shots in that span, which is a sign that he might be deferring more than ever with two new stars on the team.

“[Jalen Brunson] and KAT’s our engine,” Hart said. “I feel like we played pretty well this preseason. So I’m cool with that. I just think we can just figure out a way where we can be our best selves or whatever — roles or minutes.”

There’s more on the Knicks:

It has also been a rough preseason for Bridges, who has been misfiring since making an offseason change to his shot mechanics, according to Stefan Bondy of The New York Post. Bridges is trying to eliminate a hitch in his shot and rediscover the comfort he had at Villanova, but the early results haven’t been good. He missed all 10 of his three-point attempts on Friday and shot just 11% from beyond the arc in four games. “When I came out of college, I kind of tweaked it a little bit,” Bridges said. “And then my second year in the league, I had the hitch and tried to build back from that ever since. So just trying to get it right.”
In an appearance on the Roommates Show podcast with Hart and Brunson (video link), Towns said he learned about the trade to New York four minutes before Shams Charania broke the news on Twitter. Towns added that he respects Timberwolves president of basketball operations Tim Connelly for coming to his house and telling him about the deal in person, but he was caught off guard because he was expecting to retire in Minnesota.
Cameron Payne gave a fake name and incorrect date of birth to police when they were called to investigate a disturbance involving his girlfriend in June in Scottdale, Arizona, per Duane Rankin of the Arizona Republic. The police bodycam footage can be viewed here.

Tim Connelly Talks Wolves’ Aspirations, Gobert, Roster, More

September 2nd, 2024 at 1:31pm CST by Tristan Tucker

The Timberwolves took off in 2023/24 as their young pieces showed tremendous growth and their core took a step forward together. In an interview with Darren Wolfson of KSTP, president of basketball operations Tim Connelly said he’s proud of what the team accomplished last season.

“We don’t want to be [in] a zero-sum game,” Connelly said. “It’s not one winner and everybody else is losers. We had goals — we didn’t reach the ultimate goal, which is to bring a championship to Minnesota. But our team played well. We had some playoff success that has been a long, long time coming and hopefully it’s something we can build upon.”

Connelly spoke extensively on the state of the Wolves’ roster and a few select players. I heavily recommend watching the interview in full, but here are some of the highlights:

On where the Timberwolves stack up in the Western Conference:

“The West is so brutal, it [depends on] a shot here, a shot there, who’s healthy. So much is [based on] matchups and health. We just want to continue to be at the big table. As long as we internally grow and keep holding ourselves to the highest standards, we’re pretty excited about the season.”

On conflicting accounts that surfaced during the Olympics regarding Rudy Gobert‘s health:

“I think Rudy’s good. He had a finger injury but I think he’s good to go.”

On whether the team wants to extend Gobert:

“We’d like Rudy to be here for a long time. We love his agent, he’s been a friend for a long time and is one of the best guys in the league. And certainly our goal with most of these guys is to keep them here as long as they want to be here. … Ideally, I think continuity is going to be one of the better strengths we have going into the season and we really like our core group.”

On how much rookies Rob Dillingham and Terrence Shannon Jr. will play:

“We don’t want to put too much on any young guy’s shoulders, but we’re gonna put a lot on their shoulders. Obviously, they’re going to have to prove they’ve earned those minutes. But where we are, we’ve become a pretty expensive team, so we’re going to have to find some spots for these young guys. We know it’s not always going to be pretty, but most importantly they buy into [Wolves head coach Chris Finch] … We’re not expecting perfection, we’re just expecting a commitment to do things the way we do them.”

On the team’s work ethic this offseason:

“Our gym’s been fantastic, we’ve had 11, 12 guys here all summer. This week, we told the guys to get out of town. It’s really exciting when you don’t have to beg guys to come back to the city. And I think everybody kind of got a taste for it last year and hopefully we can build upon it.”

On who will fill the backup point guard position:

“It’s up to [Finch]. Certainly, we think [our] guys are capable. [PJ Dozier] played full-time point last year in Europe. We drafted [Dillingham] to give him a real opportunity to earn minutes early on and we’re pretty confident he can do that. Again, nothing’s given. I think the depth and the competitive nature of our depth is what helped us get through some tough times the last couple of years.”

On the possibility of filling their open 15th roster spot:

“We could. There’s some flexibility there. We want to be cognizant of where we are relative to the tax. We also want to be cognizant of where we are health-wise going into the season. Of course we’ve talked about it, if the right player is there, we would fill it. But at the moment, we’re gonna sit tight and see what September looks like. I think there will be another deal-making window too where maybe a guy shakes out that we didn’t think would be available.“

Timberwolves President Connelly Agrees To Restructured Contract, Will Stay With Club

June 4th, 2024 at 10:17pm CST by Dana Gauruder

The speculation regarding Tim Connelly‘s future has been pushed back for at least one season.

According to The Athletic’s Jon Krawczynski and Shams Charania (Twitter links), Connelly has agreed to a restructured contract with the Timberwolves that will keep him in charge of Minnesota’s front office for at least one more season.

Connelly had an opt-out clause in his contract that could have made a highly desirable “free agent” among NBA executives. Connelly helped build the Nuggets into a championship club and constructed a Timberwolves roster that made them a Western Conference finalist.

He’ll now be able to opt out after next season.

There has been heavy speculation that Connelly might exercise the opt-out due to the franchise’s ongoing ownership dispute. Current majority owner Glen Taylor is at odds with prospective owners Marc Lore and Alex Rodriguez over financial issues. A three-person arbitration panel has been selected to oversee the ownership dispute, but there are no signs of a quick resolution.

Connelly, the Timberwolves’ president of basketball operations, recently indicated that the ownership dispute wouldn’t be a deal-breaker for his future with the organization.

“I’ve had a blast here. Feels like we have roots here. It’s pretty special. That’s the goal. It has been a great couple years, and hopefully, we can make it a much longer couple years,” he said.

By restructuring his contract, Connelly can now focus on trying to tweak the Timberwolves’ roster and get them into next year’s Finals. If things go sour, he’ll have the option of moving on to another organization.

Connelly was on the Pistons’ radar for their president of basketball operations job before they decided to hire Pelicans GM Trajan Langdon.

Even with the ownership issues, Connelly’s preference was to stay in Minnesota. He and his family have settled into the area. He could sign another long-term deal after the ownership situation settles, Krawczynski reports.

Wolves Notes: Connelly, Anderson, Edwards, McDaniels

May 31st, 2024 at 10:15pm CST by Rory Maher

Timberwolves president of basketball operations Tim Connelly reportedly has an opt-out in his contract. Amid an ownership dispute, there has been speculation that the veteran executive may exercise that opt-out clause.

However, he told reporters on Friday that he’s “super excited’ about the team’s future and doesn’t plan to leave Minnesota, writes Jerry Zgoda of The Star Tribune (subscription required).

“I mean, moving [from Denver] wasn’t fun,” Connelly said. “I’ve had a blast here. Feels like we have roots here. It’s pretty special. That’s the goal. It has been a great couple years, and hopefully, we can make it a much longer couple years.”

Connelly said he’d be comfortable no matter which group ultimately gains majority control of the franchise, Zgoda adds. Longtime owner Glen Taylor, who also owns the Star Tribune, is on one side of the dispute, with minority stakeholders Marc Lore and Alex Rodriguez on the other. The matter is heading to a three-person arbitration panel.

“Ownership is obviously in a unique place right now,” Connelly said. “Whatever happens is kind of a level up. I trust whatever happens will be the right path. We’ve all shared great moments throughout this whole season. There are conversations that we’ve had, and they’ll be ongoing. Now that we’re officially in the offseason, we’ll get a better sense of what we might do.”

The Timberwolves were eliminated from the Western Conference finals after being blown out by Dallas in Game 5 in Minnesota. It was just the second time the Wolves have advanced that far in the postseason, and Connelly believes they’re capable of advancing further in the future, according to Zgoda.

“When you’re a home-court team and a final four team, all those teams can win a championship,” Connelly said. “So I don’t know if there is any linear path to that next step. I don’t think there is one singular answer. A lot of it is match-ups and health.”

Connelly praised Karl-Anthony Towns, who had an otherwise solid playoff showing but largely struggled against the Mavs. Minnesota’s top basketball executive also discussed the team’s future payroll, suggesting the Wolves would be willing to be a taxpayer, but not on a repeated basis due to the restrictions of the new CBA.

“It’s a big task for ownership,” Connelly said. “It’s a lot, a lot of money. Relative to the impact on our flexibility, I think the jury is still out. It’s not a place you want to be long-term. It gets more and more harsh each year. Dipping your toe in it, it could have relatively limited impact on what we can and cannot do. But we’re learning it like the other 29 teams.”

Here’s more on the Wolves:

Veteran forward Kyle Anderson, who has been rotation regular for Minnesota the past two seasons, will be an unrestricted free agent this summer. Retaining him will be a real challenge, considering how much money the Wolves have tied up in their other players. While Anderson said he enjoyed his time with the team and wants to return, he acknowledged he might be headed elsewhere this offseason, tweets Dane Moore. “I don’t know where I’ll be… but obviously (I) want to be back here,” Anderson said.
Star guard Anthony Edwards, who will be playing for Team USA at the Olympics in Paris this summer, said he plans to do some extra training this offseason to prepare for 2024/25, as Chris Hine of The Star Tribune writes (subscriber link). “I’ve never played this deep into a basketball season,” Edwards said. “So now I know, like, OK, in order for me to be dominant in the third round, and if we get past this and finally go to the finals, I’ve got to train like I’m going to go to the playoffs. So I can’t be missing training days, I can’t take days off, you know what I mean? I’ve got to be ready. So I know what it takes, and I’ll be ready.”
Consistently unlocking Jaden McDaniels offensively is an offseason goal for Minnesota, says Patrick Reusse of The Star Tribune (subscriber link). McDaniels’ lucrative rookie scale extension begins next season. He earned a spot on the All-Defensive Second Team this season, but often wasn’t involved enough on offense, Reusse observes.
Mark Deeks of HoopsHype provides his offseason preview for the Wolves. In addition to Anderson, veteran point guards Monte Morris and Jordan McLaughlin will also be unrestricted free agents, and so will forward T.J. Warren. Big man Luka Garza will be the club’s lone standard RFA.

Wolves Notes: Towns, Edwards, Ownership Fight, Connelly

May 31st, 2024 at 10:02am CST by Arthur Hill

As the Timberwolves deal with the disappointment of a Game 5 blowout that ended their playoff run, the focus now turns to the future and whether the franchise can afford to keep the core of its current team together. Karl-Anthony Towns, who has been the focus of some trade speculation because of his pricey contract, told reporters after Thursday’s game that he wants to stay in Minnesota, writes Dave McMenamin of ESPN.

“I’m confident I’ll be able to be here with my brothers and continue what I love to do here at home,” said Towns who has spent his entire nine-year NBA career with the team. “So that’s the plan. Nothing’s changed on my side. I love this city. I love this organization. I love this city. It’s given me my life, me and my family.”

Towns’ $221MM extension will take effect next season, paying him roughly $49.4MM, $53.3MM and $57.3MM over the next three years with a $61.2MM player option for 2027/28. With an expensive roster around him and an unsettled ownership situation, there’s no guarantee the Wolves will be willing to keep Towns and deal with the second tax apron restrictions that will result.

Towns refused to comment on the team’s financial situation following Game 5.

“That’s not for me to worry about,” he said. “My job is to go out there every day and do something this summer in the offseason and continue to take steps forward in my game and my mentality not only as a player but as a person too.”

There’s more from Minnesota:

Anthony Edwards wasn’t discouraged by the loss, promising that the Wolves will be ready for another long playoff run next season, McMenamin adds. Edwards, who had three 40-point games in the playoffs, believes the organization has a bright future after reaching the conference finals for the first time in 20 years. “It’s a lot of our guys’ first time being in this light, especially me. It’s my first time,” he said. “But we’ll be ready, man. We’ll be all right. First time. Took a loss. Congratulations to the Mavericks. But we’ll be back. We’ll be all right.”
A three-person arbitration panel has been selected to oversee the ownership dispute, but there are no signs of a quick resolution, according to Jon Krawczynski and Shams Charania of The Athletic. Arena sources tell the authors that the bitter feelings between current majority owner Glen Taylor and prospective owners Marc Lore and Alex Rodriguez have intensified, reporting that Taylor tried to approach the duo several times during the playoffs and even attempted to hug Rodriguez, but was turned away.
President of basketball operations Tim Connelly, who has an opt-out clause in his contract, will have to make a decision on his future before the ownership situation is settled, Krawczynski and Charania add. They note that Lore and Rodriguez led the recruiting pitch that convinced Connelly to leave Denver, and he joined the Wolves with the expectation of eventually working for them. Sources tell the authors that Minnesota was very concerned about the Pistons making a huge offer to lure Connelly away before they opted to make Trajan Langdon their new head of basketball operations.

Northwest Notes: Hayward, Thunder, Wolves’ Size, Wolves’ Future

May 20th, 2024 at 6:45pm CST by Dana Gauruder

Gordon Hayward was added by the Thunder from the Hornets at the trade deadline but wound up having no impact during the postseason. He only made seven appearances in the playoffs, averaging 6.6 minutes in those contests. That was a source of frustration for Hayward, who is headed for free agency, Rylan Stiles writes in a story at Sports Illustrated.

“Obviously disappointing with kind of how it all worked out. This is not what I thought it would be. Certainly frustrating. … We have a great team here with great young players, a great coach. So the future is bright,” Hayward said, adding, “I feel like as a player I have a lot to offer. I just wasn’t given much of an opportunity to do that.”

We have more from the Northwest Division:

The Thunder were the youngest team in NBA history to clinch a No. 1 seed. Though they were eliminated in the second round, the best is yet to come for this franchise, Joe Mussatto of The Oklahoman writes. “I feel like we can do anything we want to do,” Shai Gilgeous-Alexander said.
The Timberwolves’ Game 7 triumph over the Nuggets on Sunday was a tribute to Tim Connelly‘s decision to build with size, according to Rob Mahoney of The Ringer. The trio of Karl-Anthony Towns, Rudy Gobert, and Naz Reid wore down Most Valuable Player Nikola Jokic. No team can match Minnesota’s collective size, Mahoney notes, which allows the Timberwolves to play superior defensive coverage.
Another columnist, Jim Souhan of The Star Tribune, also heaped praise on the team president, declaring the Timberwolves are built to win this year and also to contend for years to come. Souhan notes that Kyle Anderson is the only member of the Wolves’ regular eight-man rotation who is not signed long-term.

Pistons Have Four Frontrunners In Search For President Of Basketball Operations

May 18th, 2024 at 8:23pm CST by Arthur Hill

Four candidates stood out in the Pistons‘ first round of interviews as they look for a new president of basketball operations, sources tell Vincent Goodwill and Jake Fischer of Yahoo Sports.

Pelicans general manager Trajan Langdon, former Knicks GM and current ESPN analyst Scott Perry, Mavericks advisor Dennis Lindsey, and Magic senior advisor John Hammond were all impressive in their meetings with the firm that’s conducting the initial search, according to the authors’ sources. They are considered frontrunners to meet with owner Tom Gores, who hopes to hire someone in advance of the draft.

Goodwill and Fischer suggest that Detroit might be waiting to see if Timberwolves president Tim Connelly becomes available before making a final decision, echoing a report from Shams Charania of The Athletic earlier this week. Connelly’s contract includes an opt-out clause at the end of the season, and he may be tempted to leave Minnesota, given the franchise’s unstable ownership situation.

Whoever takes over the Pistons’ front office will determine whether general manager Troy Weaver and head coach Monty Williams will remain with the team. There are several other important decisions upcoming this offseason, including a possible rookie scale extension for Cade Cunningham and how to spend up to $64MM in cap room.

Several of the top candidates have previous ties to the Pistons organization, the authors note. When Langdon was a player, his agent was Arn Tellem, who now serves as the team’s vice chairman. Perry is a Detroit native who got his first executive job with the Pistons in 2000 and served as vice president of basketball operations from 2008-12. Hammond was formerly an assistant coach and assistant general manager in Detroit.

Pistons Hoping To Hire Tim Connelly As President Of Basketball Operations?

May 13th, 2024 at 10:55am CST by Arthur Hill

The Pistons appear to be targeting Timberwolves president Tim Connelly in their search for a new president of basketball operations, according to James L. Edwards III and Shams Charania of The Athletic.

Sources tell Edwards and Charania that Connelly is expected to opt out of the final year of his contract with Minnesota this summer. Although it seems likely that he’ll sign a long-term deal with the Wolves, the authors speculate that Detroit owner Tom Gores could potentially land him with an aggressive offer in the range of $15MM per year.

The Pistons’ search for someone to run the front office has moved slowly since it was announced. The Bucks reportedly denied permission for Detroit to interview team president Jon Horst, and former Trail Blazers executive Neil Olshey refused an invitation to interview for the job.

The Pistons have moved onto other candidates, with the authors hearing that Pelicans general manager Trajan Langdon, Mavericks consultant Dennis Lindsey and Bulls general manager Marc Eversley have become “viable targets” for the role.

In the same piece, Edwards and Charania speculate that falling to No. 5 in the draft lottery may boost leaguewide interest in the Pistons’ first-round pick. Because there’s not a set tier of players at the top of this year’s draft, rival teams may believe the fifth pick could bring a talent similar to the top choice. It also comes at a significant discount, as the authors note that last year’s No. 1 pick, Victor Wembanyama, will earn between $12MM and $16MM for the rest of his rookie contract, while No. 5 pick Ausar Thompson will be paid between $8.3MM and $11.1MM.

Northwest Notes: Connelly, Edwards, Murray, Nuggets

May 5th, 2024 at 1:55pm CST by Alex Kirschenbaum

Nuggets-turned-Timberwolves team president Tim Connelly has reconfigured Minnesota to be potential giant-slayers against the reigning champs, writes Sam Amick of The Athletic. Connelly has made some major changes to the team since taking over the front office in 2022, most notably acquiring former Jazz stars Mike Conley and Rudy Gobert, plus swingman Nickeil Alexander-Walker.

As Amick notes, Connelly’s decision to emphasize an oversized frontcourt seemed like a direct response to two-time MVP Denver center Nikola Jokic. Connelly has, for now, been striving to retain incumbent big men Karl-Anthony Towns and Naz Reid, the latter of whom he signed to a three-season, $42MM contract as a free agent in 2023.

Following an uncharacteristic 106-99 Game 1 Denver loss to Minnesota, Jokic himself praised the opposition’s flexibility.

“I think that’s why they’re good,” Jokic opined. “They can play big. They can play small. …They’re long, physical. They rebound really well. They’re aggressive. I’m satisfied with the shots that I took. Some of them I missed. Some of them I made. So it’s a tough game, and they’re a really good defensive team.”

For his part, three-time Defensive Player of the Year Gobert appeared to be reveling in the challenge of trying to contain – or at least slow – Jokic.

“I mean, to me, he’s the best player in the world,” Gobert told Amick. “He’s soon to be a three-time MVP for a reason, but I think my abilities are unique in the way I can impact the basketball game. That’s why I’m really grateful for Tim Connelly and all these guys for believing in me, bringing me in this situation to help this team become a championship team and be a top defense. That’s who I try to be every day.”

There’s more out of the Northwest Division:

Timberwolves All-Star shooting guard Anthony Edwards has been looking positively Michael Jordan-esque during Minnesota’s playoff run thus far, opines Marcus Thompson II of The Athletic. As Thompson writes, Edwards has been used a variety of patented moves, on both ends, that emulte the former Bulls great’s signature style — from clutch fadeaway jumpers to thorough perimeter defense to extended mid-air hang time.
Nuggets point guard Jamal Murray, struggling with a calf strain, has also been dealing with some shooting inconsistencies for much of these playoffs to this point. Those issues popped up again during Denver’s Game 1 defeat against the Timberwolves, according to Ryan McFadden of The Denver Post. During the Nuggets’ five-game first round series against the Lakers, Murray made just 40% of his field goal attempts and 29.4% of his three-pointers. Against Minnesota, the Kentucky vet scored 17 points on just 6-of-14 shooting from the floor.
Now trailing 1-0 to the Timberwolves in their second round playoff series, the Nuggets find themselves playing catch-up in a series for the first time in years, per Tony Jones of The Athletic. As Jones notes, Minnesota is one of the few teams with the kind of big, physical roster that’s truly capable of giving Denver trouble throughout the course of a series. The Nuggets will face the challenge of containing Edwards’ athletic, three-level scoring, in particular, while Minnesota’s frontline is able to at least somewhat mitigate the efficacy of Jokic, Aaron Gordon and Michael Porter Jr.