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The Minnesota Timberwolves and former Chicago Bulls coach Tom Thibodeau are closing in on a five-year contract in the $10 million range annually for him to become their new coach and president of basketball operations, sources tell ESPN’s Marc Stein.

As part of the reorganization, San Antonio Spurs general manager Scott Layden would become the Timberwolves’ GM, Yahoo! Sports is reporting.

Former Knicks coach and current ESPN analyst Jeff Van Gundy and former Warriors coach Mark Jackson have also been mentioned as candidates for the Wolves coaching job.

Minnesota chose not to retain interim coach Sam Mitchell, who filled in this past season after the death of Flip Saunders in October.

Thibodeau started his NBA coaching career as an assistant with the Timberwolves from 1989 to 1991. Known as a defense-first coach, Thibodeau was also an assistant with the Spurs, Sixers, Knicks, Rockets and Celtics before being named head coach of the Bulls in 2010.

In Thibodeau’s first season with Chicago, the Bulls won 62 games and advanced to the Eastern Conference finals. Though the team made the playoffs in each of his seasons in Chicago, they never made it to the NBA finals. Thibodeau was fired in May 2015, but the Bulls went on to miss the playoffs this season.

Thibodeau would take over a Minnesota roster with plenty of young talent in Andrew Wiggins, Karl-Anthony Towns and Zach LaVine.

Information from The Associated Press was used in this report.

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