Tim Connelly didn’t get as good a deal from Minnesota as we thought

President of Basketball Operations Tim Connelly left the Denver Nuggets for the same role with Minnesota Timberwolves last month, because of a deal that was too big to turn down.

But that deal wasn’t as good as we all originally thought. Many reported Connelly would be getting an ownership stake in the Wolves, but NBA reporter Marc Stein said that is wrong over the holiday weekend.

“The oft-reported “equity” piece of Tim Connelly’s new deal in Minnesota is not an actual stake in the team but a bonus based on franchise value,” Stein wrote.

MinnPost followed with a story after Connelly’s introductory press conference in the Twin Cities.

But the bottom line is that if the Nuggets had matched the Wolves’ magnanimous offer of a 5-year, $40-million contract (not counting performance bonuses that may or may not give him some equity in the team), Connelly almost certainly would have stayed in Denver. By the same token, the Wolves aren’t paying him that much money to be delicate with his involvement in the direction of the franchise. He will inevitably be responsible for the lion’s share of the credit — or the mess — that ensues.

So Stan Kroenke couldn’t tap into his $10.7 billion net worth to keep Connelly around? While he was far from perfect, he spent nearly a decade with the organization, taking them to their NBA high point—the Western Conference Finals. Connelly built a strong team through and around Nikola Jokic and ushered in an excellent era of Nuggets basketball.

Not only did the Kroenkes show a lack of commitment through their contract with Connelly in the past, which made him a lower-paid executive, but they don’t spend on dedicated facilities. What’s next for the Nuggets is unknown, but what’s clear is that Kroenke Sports and Entertainment could’ve matched the offer made to Connelly by Minnesota. Five years, $40 million, and some bonuses based on franchise value for a club leader, direction and face to take blame or credit? That seems like a great deal that would’ve kept the reclusive Kroenkes out of the spotlight. Instead, it’s hard to take them seriously and think of them as anything other than cheap.

NBC Sports Wrote today:

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.”

The Nuggets are left with General Manager Calvin Booth to run basketball operations. He is well respected and has already been credited for some of the moves made to the roster, like the Aaron Gordon trade.
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