Actually, I believe Larry Brown's "bolt rights" were specific to the University of North Carolina.
George Karl at one time had "bolt rights" to UNC, to Europe, or if he won an NBA championship. Can't remember if that's his Denver deal, or if that was the Milwaukee deal *AFTER* they denied him the opportunity to interview at UNC. (After that incident, Karl wore a UNC hat to a golf tournament instead of anything saying Milwaukee Bucks.)
Here's what I don't get: why does Rambis take the Timberwolves job? He's got a no-show rookie draft pick in Rubio, another rookie point guard in Flynn, a top player coming back from major injury in Jefferson, and very little about that team to warm up the cold Minnesota nights. He has a good record as a head coach based on his year with the Lakers, and figures to be the favorite for the Laker job when Phil Jackson steps down.
So he goes to Minnesota - losing touch with the Laker organization - and trashes his record coaching an uber-young team that pretty much drafted every point guard available in the draft and traded away the ones they had plus several of the kids. So you're looking at no backcourt, since Foye and McCants are gone, no true center, and major question marks. If he performs some miracle with this team - like having as many wins as the Lakers average per month - it's still going to trash his coaching record. Young coaches cannot afford to rack up tons of losses if they want to remain employed.
I'd have told Minnesota, "Thanks, but no thanks."
(Sorry, jn.)