Matt Caldwell is the new CEO of the Minnesota Timberwolves and Lynx, arriving with Panthers pedigree and a plan to boost fan experience while pursuing a privately funded new arena in Minneapolis. Next season will feature theater-style lighting at Target Center, and Caldwell emphasizes a culture of excellence, cross-department alignment, and lean staffing. He outlines a multi-year arena timeline (roughly 2–4 years to site work, 3 years to build, about five years to open) and reframes recent layoffs as restructuring, not distress.

With Tim Connelly already shaping basketball operations and ownership backing a bold arena project, Caldwell aims to fuse business and basketball operability. His military background informs a team-first leadership ethos, and his network with Marc Lore and Alex Rodriguez catalyzes the franchise’s ambitious strategic direction.