Former Chicago Bulls coach Tom Thibodeau has been named the new head coach, and, importantly, the new president of basketball operations for the Minnesota Timberwolves.
ESPN.com as reported that the two parties spent the majority of Wednesday hammering out a deal which will earn Thibodeau an estimated $40 million over a five-year period.
His assistant, Scott Layden, will reportedly earn $2 million a season and owner Glen Taylor is willing to commit around $10 million a season for Thibodeau to turn his franchise into a contender.
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The 58-year-old was unquestionably one of the hottest available coaches in the game and had been out of work since leaving the Bulls in May of 2015, nearly 12 months ago.
However, the lure of working with talents like Karl-Anthony Towns and Andrew Wiggins, on top of returning to where it all started for the coach, proved to be the most attractive offer.
"I started my NBA career with the Minnesota Timberwolves and it is an incredible opportunity to rejoin the organisation at a time when they have what I believe to be the best young roster in the NBA," Thibodeau said in a statement. "Together with a great owner in Glen Taylor and a terrific basketball partner in Scott Layden, I look forward to building a winning culture that Minnesota sports fans can be proud of."
Zach LaVine and Ricky Rubio are two other talents Thibodeau has to play with and with some enviable cap space this summer, it's not too far-fetched to say that 2011 NBA Coach of the Year could feasibly have a contender on his hands with some diligent work.
It's also speculated that Thibodeau believes his work with Team USA and the bonds he has built with some top players will stand him in good stead to lure top free agents to Minnesota.
Prizing Layden away from his assistant coaching role with the San Antonio Spurs has to be considered a coup, too. Being able to make all his own decisions and assume almost complete control was the big swing for Thibodeau here, as it was speculated that tensions between the coach and the Chicago front office are what ultimately led to his demise in the Windy City.
On top of their talented young roster, Minnesota have the luxury of another lottery draft pick this summer. As they look to end a 12-year run without an appearance in the postseason - which is the longest drought in the NBA - Taylor is confident he is handing the keys over to he right man.
"We are extremely excited to welcome Tom Thibodeau back to the Timberwolves," Taylor said. "Through this process we quickly identified Tom as the best leader to shape our talented team and help them realize their full potential.
"Tom's resume speaks for itself. He is a proven winner, leader and one of the most well-respected NBA head coaches over the last decade. His teams have annually been among the league leaders in defense, and we are excited about the approach and mentality he will bring to that side of the ball. The future of the Minnesota Timberwolves has never been brighter, and we are very pleased to have Tom as our basketball operations leader moving forward."
Thibodeau certainly did an excellent job bringing out the best in Derrick Rose in his time with the Bulls, helping the point guard with the regular season MVP award in 2011 at just 22-years-old.
Can Thibodeau have the same effect on the Timberwolves' precocious young talents?