Matt Marton/Associated Press

The Minnesota Timberwolves reportedly have found their next head coach after relieving Sam Mitchell of his duties on April 13.

Jon Krawczynski of the Associated Press reported Tom Thibodeau has signed a contract to become the Timberwolves' head coach and president of basketball operations.

ESPN.com's Marc Stein initially reported that Thibodeau and Minnesota were "closing in" on a five-year deal worth around $10 million per year.

Adrian Wojnarowski of The Vertical added that current San Antonio Spurs assistant general manager Scott Layden had talks with the Timberwolves to be the team's new general manager. Jerry Zgoda of the Star Tribune added that current Timberwolves GM Milt Newton would be able to retain a position with the team if he chooses to.

Wojnarowski and Chris Mannix of The Vertical reported Monday on Thibodeau's reasoning behind wanting both roles:

Thibodeau wants to have final say on player personnel, organizational philosophy and hirings, league sources said, and that’s only available with the Minnesota opening now. The lure of hiring his own general manager and constructing a contender around Karl-Anthony Towns and Andrew Wiggins has turned Thibodeau increasingly aggressive in pursuit of the job, league sources said. Minnesota ownership is completing its meetings with Thibodeau and Jeff Van Gundy on Monday and is expected to move quickly in making an offer, league sources said. Thibodeau’s appetite for organizational power has been unmistakable to Timberwolves owner Glen Taylor in the process, league sources said.

On April 18, Stein reported that Taylor interviewed Thibodeau over the weekend. Wojnarowski reported on April 15 that Minnesota had set up a meeting with Thibodeau.

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Thibodeau saw his five-year run as the Chicago Bulls head coach come to an end in 2015 after compiling a 255-139 record.

Though that was his first head coaching gig, he has been coaching in the league for more than two decades, starting as an assistant with the Timberwolves in 1989-90.

After two years in Minnesota, Thibodeau had stops with the San Antonio Spurs, Philadelphia 76ers, New York Knicks, Houston Rockets and Boston Celtics before joining Chicago.

Prior to the hire, Wojnarowski reported the Timberwolves reached out to Monty Williams about the head coaching job, but Williams was not interested after his wife Ingrid was killed in a car accident in February.

On Tuesday, Krawczynski reported the Timberwolves would interview former Warriors coach and ESPN analyst Mark Jackson for the coaching job.

On Monday, Stein reported that Taylor met with Jeff Van Gundy. Wojnarowski first reported April 15 that the Timberwolves had set up a meeting with Van Gundy.

Ultimately, Thibodeau will inherit one of the league's most promising situations, as the Timberwolves are laden with talented and young players, such as Karl-Anthony Towns and Andrew Wiggins.

Minnesota went 29-53 in 2015-16, but it was a 13-win improvement from a 16-66 finish in 2014-15.

It will be imperative for the new coach to continue the development of the team's young players. If the next coach puts everything together, the Timberwolves could become a force in the Western Conference in the next few years.

Stats courtesy of Basketball-Reference.com.