The Minnesota Timberwolves and Lynx have hired Matthew Caldwell as Chief Executive Officer. This marks the first major move by new Minnesota controlling owners Marc Lore and Alex Rodriguez. Caldwell, who previously served as President and CEO of the Florida Panthers, signed a 10-year contract to lead business operations for the NBA, WNBA, and G League franchises.
Caldwell begins his role on Sept. 2. He replaces Ethan Casson, who stepped down in June after nearly a decade with the organization. Interim CEO Kelly Laferriere will remain with the franchise as a senior advisor to ownership.
The hire signals Lore and Rodriguez’s vision to stabilize leadership and invest in long-term growth for basketball in Minnesota. In a joint statement, the co-chairmen said Caldwell’s track record with the Panthers made him the right choice to guide the Timberwolves and Lynx into a new era.
“Our vision is for the Timberwolves and Lynx to set a new standard of excellence in pro sports, and we’re confident that Matthew is the leader needed to make that a reality,” Lore and Rodriguez said in a joint statement. “… We can’t wait to see the remarkable impact his bold leadership will have on this organization.”
Matthew Caldwell has the credentials to run the Timberwolves and Lynx
Caldwell spent nine years with the Panthers. He helped the franchise reach three consecutive Stanley Cup Finals and secure back-to-back championships. Furthermore, during his tenure, the Panthers won the 2025 Sports Business Journal Team of the Year award. He first joined the organization in 2014 as Chief Operating Officer. Afterward, Caldwell became CEO in 2016. That made him the youngest CEO in U.S. professional sports at the time. Caldwell is also a U.S. Army veteran and former Goldman Sachs executive.
“I’m honored and humbled to join the Timberwolves and Lynx organization at such a pivotal moment in its history,” Caldwell said in a statement. “I am inspired by Marc and Alex’s vision and passion for Minnesota basketball and their commitment to excellence. I look forward to making my mark across the organization and to building a lasting foundation that gives Minnesota basketball fans what they deserve. The best experience in sports, bar none.”
Basketball operations for both teams remain unchanged following the hiring. Tim Connelly and Cheryl Reeve are continuing in their leadership roles.
