The Minnesota Timberwolves received the first overall pick of the 2015 NBA draft for the first time in franchise history. The team had a 25 percent chance of landing the top selection as it placed last in the league at the conclusion of the regular season.

Meanwhile, the Los Angeles Lakers snatched the second overall pick from erstwhile contenders Philadelphia 76ers, New York Knicks, and Orlando Magic, who settled for the third, fourth, and fifth picks respectively, as reported by ESPN's Ian Begley.

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The Knicks should have landed the No. 2 spot because the team has a 19.9 percent chance of getting the top pick after finishing the season at the bottom two. Instead, the Lakers leapfrogged them as they settled for the fourth pick.

"This is a great day for our franchise and our fans. We're excited about the opportunity to have the top pick in the draft for the first time in franchise history," said Minnesota Head Coach and President of Basketball Operations Flip Saunders through the NBA's official Timberwolves website. "The No. 1 pick is a fantastic asset to have as we look to add more talent to our team."

The potential top picks for the draft that will be held on June 25 are Kentucky Wildcat's Karl-Anthony Towns and Duke Blue Devil's Jahlil Okafor. Both stands at 6-foot-11 and have the size and skills to potentially be strong NBA post players in the near future.

Sports Illustrated's Chris Mannix has reported a mock draft showing that Minnesota might pick Towns, while the Lakers go after Okafor. Towns is a more polished post scorer that has a good shooting touch from the perimeter, while Okafor is an "NBA-ready center who can score in the post and should be a strong complement to returning power forward Julius Randle."

Minnesota was represented by its owner Glen Taylor during the Draft Lottery, while the Lakers were represented by the team's head coach Byron Scott.

TagsNBA 2015, NBA Draft Lottery, NBA Draft Lottery 2015, Minnesota Timberwolves, Los Angeles Lakers