Wolves bringing Thibodeau full circle with hire

9:59 PM ET

The Minnesota Timberwolves announced Wednesday night that Tom Thibodeau is their new coach and president of basketball operations.

Sources told ESPN.com that the sides spent much of Wednesday finalizing a deal that, with Wolves owner Glen Taylor committing an estimated $10 million annually to completely reshape his organization, sets up Thibodeau with a five-year contract worth about $40 million while also paying new Wolves general manager Scott Layden in the range of $2 million per season.

Editor’s PicksThibs the right choice for Timberwolves?

Tom Thibodeau’s coaching ability is well-known. Less clear is whether he is the right person to lead the Timberwolves, writes Kevin Pelton.

“I started my NBA career with the Minnesota Timberwolves and it is an incredible opportunity to rejoin the organization 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.”

The Wolves chose Thibodeau, 58, over fellow finalist and ESPN analyst Jeff Van Gundy, who remains a co-favorite alongside former Oklahoma City Thunder coach Scotty Brooks for the Houston Rockets’ coaching vacancy. ESPN.com reported Wednesday afternoon that the Wizards were pressing to try to seal a deal with Brooks before the Rockets are out of the playoffs and formally …

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