Tim Connelly and the Minnesota Timberwolves have agreed to a restructured contract that will allow him to again have an opt-out clause after the 24-25 season.

The Wolves hired Connelly away from the Denver Nuggets during the 2022 offseason and he had the ability to opt-out of his contract this offseason. Connelly signed a five-year, $40 million deal with Marc Lore and Alex Rodriguez driving the decision.

Connelly's opt out was intended to line up with the transfer of ownership from Glen Taylor.