That is about to change.

By finalizing an agreement with Tom Thibodeau on a five-year contract to become both the team’s coach and president of basketball operations, per multiple reports, the Timberwolves now have put the final piece in place to become the NBA’s Next Great Team.

When Minnesota opted to move on from Sam Mitchell almost immediately after the end of the regular season last week, the coaching vacancy created automatically became the most attractive job on the market. That’s saying something, given the New York Knicks are (at least allegedly) in the market for a head coach, as are the Houston Rockets and Washington Wizards, with the Los Angeles Lakers a possibility, as well.

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But even if the Knicks and Lakers jettisoned Kurt Rambis and Byron Scott, respectively, and committed to full-blown coaching searches, no job on the market today could compete with what the Timberwolves had to offer – and that’s even before the possibility of having total control, as Thibodeau will, is brought into the equation.

No, the Timberwolves had the best job available because they have the most young talent of any team in the league. It starts with Karl-Anthony Towns, who will likely be a unanimous selection as this season’s Rookie of the Year – despite this being one of the best rookie classes in years. Just look at these numbers: 18.3 points, 10.5 rebounds, 2.0 assists and 1.7 blocks per game while shooting 54 percent from the field and 34 percent from the three-point line. Combine that with Towns being a 7-footer with the athleticism of a player several inches smaller, and he’s the dream candidate for someone to build a team around.

Minnesota would be a great job if Towns was the only asset there – he’s really that good. But then consider that the Wolves also have Andrew Wiggins, last year’s Rookie of the Year and an elite athlete on the wing who could become a ridiculously good defensive player in addition to a 20-point scorer; Zach LaVine, a two-time dunk champ who is already proving to be an above-average shooter to go along with his insane athleticism; and Ricky Rubio, one of the NBA’s better defensive point guards and a gifted passer; plus a lottery pick in this year’s draft, which at worst will likely be the No. 6 or No. 7 selection, but could jump up to the top spot.

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None of that even includes some of the lesser young talents on Minnesota’s roster like Gorgui Dieng, Tyus Jones and Shabazz Muhammad, all of whom either are developing into, or have the potential to be, capable NBA role players.

It’s a young core that oozes potential in a way that we haven’t seen since the Oklahoma City Thunder began building around Kevin Durant, Russell Westbrook, Serge Ibaka and, at the time, James Harden. That team went from winning 20 games in 2007-08 to 23 games the following season to 50 games the year after that.

Minnesota won 16 games last season, followed by 29 this year. The Timberwolves could easily double that total next season, and move not only into the playoff picture in the West, but possibly even into contention for a top-four seed.

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Sound bold? Maybe. But it’s easy to put faith in a coach like Thibodeau, long considered one of the best defensive minds in the league, and who immediately took the Bulls to 62 wins in his first year in charge in 2011. And the Timberwolves were already beginning to show signs of progress under Mitchell this season, including wins at Golden State and Portland late in the regular season.

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Given the amount of defensive weapons on this Minnesota team – from Towns to Wiggins to Rubio, plus the potential for growth from LaVine and whoever the Timberwolves take with their first round pick – there’s every reason to think Thibodeau can take Minnesota from 27th in defensive rating, where the Timberwolves ranked this year, to somewhere in the top 10, or at the very least just outside of it. And while Thibodeau’s offenses were criticized in Chicago, the Bulls were a top-five offense in 2011, when Derrick Rose won the MVP, and then were a borderline top-10 offense the following season even with Rose missing half of that season. It bears noting that while he was maligned for his offensive system during his final season with the Bulls, Chicago finished 10th that year; this season, with a similar roster, the Bulls finished 25th in offense.

Then there’s the criticism of giving any coach – but specifically Thibodeau, known as a relentless competitor focused heavily on the present – the kind of power that Minnesota is granting Thibodeau over personnel. But, like with Stan Van Gundy in Detroit, Thibodeau is going to bring in a general manager he respects to oversee the team’s day-to-day operations. Scott Layden, who will reportedly fill that role, was the general manager of the Knicks from 1999 to 2003 while Thibodeau served as an assistant coach.

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But Minnesota has the foundation in place. Towns, Wiggins and LaVine aren’t going anywhere; Rubio is under contract; and they’ll have their first round pick this season. All the Timberwolves have to do is supplement that core a bit, and having a coach like Thibodeau – in addition to the talent already on the roster – should make that easier.