Well, that escalated quickly

Tom Thibodeau will soon take over coaching and team president duties in Minnesota, according to multiple published reports.

Thibodeau is said to be nearing a five-year contract with the Timberwolves (worth up to $11 million annually.)

Per Yahoo:

Thibodeau emerged as the frontrunner in pursuit of the job in recent days, selling owner Glen Taylor on his vision of sustained success and playoff basketball in Minnesota, league sources said. […] Thibodeau has been drawn to the full control of the organization and the chance to coach a talented young core that includes rookie center Karl-Anthony Towns and Andrew Wiggins.

 

Jeff Van Gundy was among the finalists for the job.

 

Thibodeau, 58, had clashes with Chicago management in his successful five-year run with the Bulls and embraced a Minnesota management model based upon Stan Van Gundy’s setup with general manager Jeff Bower in Detroit. […] Thibodeau has a strong relationship with Timberwolves’ legend Kevin Garnett, who plans to play another season with the team. Garnett has had aspirations of joining the team’s ownership group upon retirement. Thibodeau and Garnett were part of Boston’s 2008 NBA championship team.