Alex Rodriguez, Marc Lore, Minnesota Timberwolves
Credit: Bruce Kluckhohn-Imagn Images
Just last week new Minnesota Timberwolves owners Alex Rodriguez and Marc Lore cleaned house on the business side of the front office. Dozens of employees were let go, and the moves came out of nowhere.
On Wednesday they took another big swing and hired a new CEO for the organization. Matthew Caldwell comes in with an impressive track record. Ownership is tying themselves to him for the long term.
Matthew Caldwell named Minnesota Timberwolves CEO
Although fans assimilate the Minnesota Timberwolves with Anthony Edwards, his game, kicks, and personality, there is much more to the franchise. Alex Rodriguez and Marc Lore own both the NBA franchise as well as the league-leading WNBA Minnesota Lynx.
Beyond just the on-court personnel, there is a business to run as well. On that front, Matthew Caldwell will now lead operations as the CEO, and he has quite the resume.
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— Minnesota Timberwolves (@Timberwolves) August 27, 2025
In a press release, Lore and Rodriguez commented, “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. Leading our organization into an innovative new era requires an exceptional individual at the helm and Matthew’s proven track record leading the business of the Florida Panthers is undeniable. We can’t wait to see the remarkable impact his bold leadership will have on this organization.”
It’s one thing for Caldwell himself, and ownership, to be excited about the new role, but it’s another for local media to be surprised and invigorated by the hiring as well. The Athletic’s Jon Krawczynski weighed in.
In an industry that measures longevity by months, not years, a decade-long commitment to Caldwell is a head turner. Caldwell spent 9 years as CEO in Florida, where the Panthers won the last two Stanley Cups.
— Jon Krawczynski (@JonKrawczynski) August 27, 2025
Fresh off a pair of Stanley Cup victories, Caldwell leaves the NHL for the NBA. His former boss, Panthers owner Vincent Viola told Krawczynski, “There are very few opportunities I would advise him to pursue, but working with Alex Rodriguez and Marc Lore on a global platform like the NBA is at the top of that list.”
Caldwell has experienced the pinnacle of sport. Winning Stanley Cups in consecutive seasons is no small feat. The Panthers became just the eighth team in NHL history to do so. They were the first since the Tampa Bay Lightning in 2020 and 2021.
He joined Florida in 2014 as the Chief Operating Officer. Within two years he was promoted to CEO and, at 36, became the youngest to hold that position across all United States professional sports. He served five years as a U.S. Army Captain and did tours in Iraq and Kosovo.
Timberwolves fans know too well that the trophy case is void of a Larry O’Brien Trophy. The team has been bounced during the Western Conference Finals in each of the past two seasons. Caldwell would love to help orchestrate a winner that can overcome the heartbreak.
Related: New MN Timberwolves Owners Fire Dozens of Employees
He also steps in front of a Lynx team currently leading the WNBA with a 30-7 record. After having the title stolen from them last season, Minnesota would love to grab their fifth this season.
The Minnesota Timberwolves schedule just dropped, and they’ll open the regular season on October 22 in Portland against the Trailblazers.
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