The Minnesota Timberwolves secured the No. 1 pick in the NBA draft for the first time in the entire history of the franchise.

NBA.com reported that the winning lottery combination favored the Wolves on Tuesday night, with them getting the top overall selection for the 2015 NBA Draft.

The team was reportedly represented by owner Glenn Taylor at the lottery, which was held at the New York Hilton Midtown.

According to the NBA's website, this year's draft will take place at the Barclays Center in Brooklyn, New York, on Thursday, June 25.

"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. The No. 1 pick is a fantastic asset to have as we look to add more talent to our team," said Timberwolves President of Basketball Operations Flip Saunders.

Saunders also mentioned in an interview with ESPN that it was an emotional day for the team, noting that they will consider all options in making the pick.

"Having the No. 1 pick gives us the opportunity to really evaluate everybody and really see what direction we want to go. At this point, we're open. We'll pick the best player for us on June 25," Saunders added.

For his part, Taylor said that he is happy for the Minnesota fans who have really been supportive to the team even though it was a difficult year for them.

This is the first time for the Wolves to acquire a No. 1 pick though they have last year's top pick, Andrew Wiggins, on their team after a trade with the Cleveland Cavaliers.

It can be noted that the Wolves joined the draft lottery on Tuesday night with only 25 percent chance of getting the top overall pick and 64.28 percent chance of having a top-three selection.

The second pick went to the Los Angeles Lakers, the third went to the Philadelphia 76ers, the fourth to the New York Knicks and the fifth to the Orlando Magic.

These teams will reportedly be shopping eligible players like Kentucly's Karl-Anthony Towns, Duke center Jahlil Okafor, Ohio State point guard D'Angelo Russell and guard Emmanuel Mudiay, who played in China this season.

Lakers coach Byron Scott said that it was a big night for them, getting the No. 2 pick, the Los Angeles Times has learned. 

"I think this is obviously a step in the right direction for the franchise and the process of being back to where we know we should be in the next year or so," Scott added.

The anticipation on who will be the top players to be chosen during this year's draft has now officially started to build up.