Report: Glen Taylor puts Timberwolves up for sale
The Minnesota Timberwolves are on the market.
According to Scott Soshnick of Sportico, Timberwolves owner Glen Taylor has retained The Raine Group to open the process of selling the franchise. Offers have already been made, and a sale could take place within the next month.
The report states that Taylor is asking at least $1.2 billion for the team. He has sought to avoid a public bidding process and wants to quietly find a buyer without any sort of media or corporate frenzy.
Taylor has been the majority owner of the Timberwolves since 1994. Though once a contender, they have made the playoffs just once since the 2003-04 season.
One thing this could mean is a thawing of relations with franchise icon Kevin Garnett. Garnett infamously fell out with Taylor over what the ex-player claimed was a broken promise about an ownership stake, and has refused to even have his uniform retired by the team as long as Taylor is the owner. Now that Taylor looks to be on the way out, Garnett could be recognized by the franchise, and maybe even try to join an ownership group that buys them.