The tides of change are coming for Minnesota basketball after it was announced current owner Glen Taylor put his team up for sale.
The billionaire has owned the team since 1995, and his decision comes after weeks of considering the matter.
(via Scott Soshnick of Sportico)
The Minnesota Timberwolves are for sale.
Billionaire owner Glen Taylor has retained The Raine Group to sell the franchise he’s owned since 1995, according to three people with direct knowledge of the matter. There are several parties who have bid on the team, two of the people said. A deal could be completed within a month, one of the people said.
We do not yet know all the names of those who have shown interest in buying the team, but we know at least one of them: former Wolves big man Kevin Garnett.
NBA/Timberwolves legend Kevin Garnett and a group of investors are seriously interested in and exploring bid for Minnesota T’Wolves from Glen Taylor, sources tell @TheAthleticNBA @Stadium.
— Shams Charania (@ShamsCharania) July 21, 2020
According to @ShamsCharania, this bid is “personal” for KG, and keeping the franchise in Minnesota is a requirement.
— Hoop Central (@TheHoopCentral) July 21, 2020
The TWolves have struggled to stay relevant since the departure of KG in 2007. Years of losing and dysfunction have headlined their existence these past few years and their revenue no doubt reflected it.
There have been talks about wanting to relocate a team in the West to Seattle or Vegas and depending on who ends up with the team, it could become reality.
This is likely why KG is so invested in trying to buy it out. Having spent 14 seasons there, he’s one of the premier faces of the franchise and still has a bond with the team.
It will be interesting to see who ends up with the Wolves in the end, or if Mr. Taylor even goes through with selling it at all.
