Alex Rodriguez may have failed in his bid to buy the New York Mets, but it looks like he could end up owning a major professional sports team anyway.
Minnesota Timberwolves reporter Jon Krawczynski of The Athletic reported on Saturday that Rodriguez and business partner Marc Lore (pronounced “Loree”) are negotiating to become the owners of the Timberwolves. The two reportedly have a 30-day exclusive negotiating window with current owner Glen Taylor.
According to the report, the plan would be for Rodriguez and Lore to be limited partners for two and a half years before taking control of the team.
Rodriguez and Lore issued the following statement:
“We look forward to entering this phase of the process with Glen Taylor. Our respect for him and the legacy he has built lays an amazing foundation for what is to come. We are excited by the prospect of getting to know the Timberwolves organization, the talented team and their incredible fans.”
We learned last July that Taylor was putting the Timberwolves up for sale. Former Timberwolves star Kevin Garnett was making a bid to own the team, but that did not happen. Garnett ended up taking shots at Taylor as a result. A different former sports star may end up buying the team now.
Much like he did with the rare opal in “Uncut Gems,” Kevin Garnett is taking himself out of the bidding in the sale of the Minnesota Timberwolves.
The retired Wolves great announced via Instagram on Tuesday that he and his ownership group are officially out of the running to purchase the team. Garnett also took more shots at owner Glen Taylor, saying “thx Glen for being yourself n (sic) what I know you to be.”
The former NBA MVP proceeded to call it a “joke” that the players who helped build a franchise “like a home” could “never own them, only rent them.” Additionally, Garnett hinted at the possibility of getting involved with ownership bids for potential expansion teams in Seattle and Las Vegas.
Garnett is the greatest player in Wolves franchise history, having put the team on the map in their first decade of existence with his superstar play. But he has had a longstanding grudge against Taylor and has yet to get his jersey retired by the Wolves.
Taylor, who has owned the Wolves since 1994, has been fielding bids to sell the team since last summer. Garnett and a pair of billionaires recently got involved in the process with Garnett having previously said that he would love to “remove” Taylor. Unfortunately though, Garnett’s group is now out, and those hoping for a storybook ending will ultimately be disappointed.
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.
Minnesota Timberwolves owner Glen Taylor recently appeared to extend an olive branch to Kevin Garnett when he congratulated Garnett on making the Hall of Fame, but K.G. clearly has no interest in making amends with his former boss.
In a wide-ranging interview with Shams Charania of The Athletic, Garnett was asked if he thinks the T-Wolves will eventually retire his jersey the way the Boston Celtics are planning to do next season. The 15-time All-Star said he has no interest in having a relationship with the franchise as long as Taylor remains the owner. He also called Taylor a “snake motherf—er.”
“At this point, I don’t want any dealings with Glen Taylor or Taylor Corp. or anything that has to do with him. I love my Timberwolves, I’ll always love my guys, I’ll always love the people who f— with me there. I’ll always have a special place for the city of Minneapolis and the state of Minnesota in my heart. But I don’t do business with snakes. I don’t do business with snake mu’f—as. I try not to do business with openly snakes or people who are snake-like.”
Garnett revealed a few years back that he and the late Flip Saunders had discussed plans to have K.G. transition to a front office or ownership role with the Timberwolves after Garnett was done playing. When Saunders died of Hodgkin’s lymphoma in 2015, Garnett says Taylor did not honor any of those plans.
“Glen and I had an understanding before Flip died, and when Flip died, that understanding went with Flip. For that, I won’t forgive Glen,” Garnett told Charania. “I won’t forgive him for that. I thought he was a straight up person, straight up business man, and when Flip died, everything went with him.”
Some have speculated that Garnett could reconcile with Taylor after Taylor released a kind statement about K.G. on Saturday, but it is obviously going to take more than that to bury the hatchet.
Garnett is the most iconic player in T-Wolves franchise history, having played 14 of his 21 illustrious NBA seasons with them. It’s a shame for the organization that the relationship is so sour, and there may only be one thing that could change that.
Kevin Garnett is officially headed to the Basketball Hall of Fame, and Glen Taylor may be using it as an opportunity to thaw out their beef.
Garnett, who was announced on Saturday as a member of the 2020 Hall of Fame class, received congratulations from the Minnesota Timberwolves owner in a statement. Taylor called Garnett’s induction “an honor so well deserved” and said that he “will forever be grateful for [Garnett’s] contributions to the Timberwolves organization.”
While the statement might not seem like much on its face, there is definitely some subtext behind it. Garnett and Taylor have had a feud for the last several years, and the 15-time All-Star’s number has still not been retired by the team, despite him being probably the most important player in franchise history.
Not long ago, Garnett said that he would “love” to remove Taylor as the team’s owner, but this may be Taylor’s way of calling for an end to their bad blood.
The Minnesota Timberwolves can now move forward in a new chapter for the team, one that does not involve Jimmy Butler. And their owner seems pleased about that.
Timberwolves owner Glen Taylor spoke with The Athletic’s Jon Krawczynski for an interview about the state of the team following their long-awaited trade of Butler, which came on Saturday. Taylor says he wishes Butler had let them know of his trade request earlier so that they could have sorted things out sooner rather than closer to the season. For that, he might have to blame Tom Thibodeau, who was told of Butler’s trade request after last season ended but was determined to keep the player with the team and fix the situation.
Ultimately, Minnesota held onto Butler to start the season while examining various trade requests. The team went 4-9 with Butler, though he only played in 10 of the 13 games.
“When we had these disruptions, rightly or wrongly, it appeared to have affected the team in a negative way,” Taylor told Krawczynski.
“Nothing seemed to be working. As a matter of fact, things were tilting to the negative side and we needed to get it done.”
Minnesota got Dario Saric, Robert Covington, Jerryd Bayless and a future 2nd-round pick for Butler and Justin Patton. Butler is expected to make his Philadelphia 76ers debut on Wednesday.
Minnesota Timberwolves owner Glen Taylor has spoken about the Jimmy Butler situation and finally weighed in.
Taylor talked with the Minneapolis Star Tribune, which he owns, for an interview. He told columnist Sid Hartman that it’s in the team’s best interest to trade Butler.
“Yes I think that he’s made it very clear that he would not re-sign with us at the end of the year and therefore it is in our interest to get a trade so that we can get a player or two to replace him that helps our team,” Taylor told Hartman.
Taylor told Hartman that Butler’s demand made a few weeks ago was the first time he’d heard about the All-Star wanting to be traded, even though Butler has said he told Minnesota that shortly after the team’s season ended. The owner also said that head coach Tom Thibodeau is not coaching for his job as many have speculated. Thibodeau is entering the third season of five-year deal for about $8 million per season.
Thibodeau has been reluctant to trade Butler for two reasons. One, he knows the team will not be as successful without him. Two, he does not want to lose leverage in trade talks by making it seem like they’re desperate to let him go.
Taylor’s stance on the Butler situation should not be too surprising. The owner reportedly told other teams that Butler is available in a trade.
For now, Minnesota is keeping Butler while looking to accommodate his trade request. If they know he’s going to leave in free agency, it would make sense for them to deal him. But at least they can keep him on the roster for now and see how well the team plays with him. They would have until February’s trade deadline to deal him.
The beef between Kevin Garnett and Minnesota Timberwolves owner Glen Taylor is continuing.
In an interview this week with Awful Announcing, Garnett said that he was interested in getting into ownership at some point, perhaps with the Wolves. But he added that he didn’t want to work with the current ownership group.
“I don’t want to be partners with Glen, and I wouldn’t want to be partners with Glen in Minnesota,” said the retired 15-time All-Star. “I would love to be part of a group that buys him out and kind of removes him and go forward.”
Garnett is perhaps the most iconic player in Wolves franchise history, having played 14 of his 21 illustrious NBA seasons with them. But it’s no secret that he isn’t fond of Taylor, who has owned the team since 1994.
The remarks that Garnett made back in April shed some light on why their beef exists.
Minnesota Timberwolves owner Glen Taylor rather firmly stated that forward Andrew Wiggins would not be traded, and that he instead expects the player to sign a max contract in the near future.
Taylor told Sid Hartman of the Star Tribune that Wiggins is not available in any trade. Instead, the plan is to sign him to a five-year, $150 million deal, the maximum allowable offer.
Taylor is aiming for a playoff bid, which would be the team’s first in 13 years.
“Well, of course we have to get into the playoffs,” Taylor said. “And where we get into … the playoffs is probably very important for us. To get into fourth place so you have home-court advantage would really be the super position.”
The Timberwolves had reportedly been eyeing Kyrie Irving, but they would likely have to part with Wiggins to make that trade happen. It does not sound like they’re interested in doing so.
Despite playing 14 of his 21 NBA seasons with the Timberwolves and retiring with them last summer, Kevin Garnett isn’t particularly pleased with the way that his time in Minnesota ended.
In an interview with Adi Joseph of For The Win that ran on Tuesday, the 15-time All-Star revealed that there was talk under former head coach and president of basketball operations Flip Saunders of him getting a post-retirement role with the Timberwolves, perhaps in a front office or ownership capacity. But Saunders passed away from Hodgkin’s lymphoma in October 2015, and owner Glen Taylor essentially just scrapped the plan for Garnett.
“It seemed like it was perfect for how Flip organized and put it together and designed it,” said Garnett. “Obviously when he left us, Glen saw differently and wanted to go a different way.
“To say Debbie Downer is an understatement,” he continued. “It was a huge disappointment and one that showed me the true Glen Taylor. It showed me how he really feels. When this guy got the team, it was worth $90 million. When I left it, it was worth somewhere in the $400 (millions). That was never taken into account in my value or none of that. I guess I served my purpose, and I was on to the next.”
Garnett and Saunders were indeed responsible for putting the Timberwolves franchise on the map in the late 1990s and the early 2000s. But there’s a reason why Garnett has been working with other teams since he retired, and it’s a shame that a man who came to embody Minnesota basketball is no longer on good terms with the team.