ESPN and The Vertical's Adrian Wojnarowski report that the Timberwolves are closing in on a 5-year deal with Tom Thibodeau to become the new head coach of the team.
According to NBA.com, the Thibodeau and Layden spent time together with the New York Knicks in the late 1990s.
Thibodeau was an assistant coach with the Knicks from 1996-2003. Layden joined the Knicks as their GM in 1999 and was later promoted to team president. Prior to his time in New York he helped build the ultra-successful Utah Jazz teams of the mid-90s.
Garnett, who could someday become part of the Wolves' ownership group, has a strong relationship with Thibodeau from their days together in Boston, Wojnarowski reports. Thibodeau was an assistant in Boston from 2007-2010 and they won a title together in 2008.
What happens to current GM Milt Newton?
According to the Star Tribune, Milt Newton can remain on the staff if he wants. His role hasn't been defined, but Jerry Zgoda says Newton would report to Layden and Thibodeau of he stays.