Timberwolves: Tim Connelly didn’t actually get ownership stake
The reports that gave the impression the Timberwolves offered an ownership stake to lure Nuggets president Tim Connelly?
Marc Stein of Substack:
Tim Connelly said at the news conference he did not want to discuss "contractual negotiations." Glen Taylor then stepped in and said: "Basically he's on a bonus program just like a lot of people are. If the team does well, he does better."— Marc Stein (@TheSteinLine) May 31, 2022
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Incoming Timberwolves owners Alex Rodriguez and Marc Lore might like the impression they did something bold. The Nuggets – who were too cheap to retain Connelly – might want people to believe Minnesota’s offer was outlandish. Connelly clearly didn’t want the details public.
But uninvolved teams’ owners are surely glad Glen Taylor revealed that. They don’t want a precedent of having to relinquish ownership shares to compensate top executives.
Connelly reportedly got a five-year, $40 million contract plus this bonus of unknown value. That’s still a lot of money, even if this isn’t the landmark deal it was once thought to be.
Most importantly, it was enough to poach Connelly, an excellent executive who brightens Minnesota’s long-term outlook.