The Minnesota Timberwolves owner, Glen Taylor, is considering selling the team. Franchise legend Kevin Garnett is interested in becoming the new owner.
What we know:
- Owner Glen Taylor announced Tuesday that he is exploring the sale of the team. “From the time I bought the team in 1994, I have always wanted what’s best for our fans and will entertain opportunities on the evolution of the Timberwolves and Lynx ownership structure,” said Taylor in a statement. Taylor told The Athletic that he would not consider any bids that want to move the team out of Minneapolis. Taylor has retained The Raine Group, a global merchant bank, to help explore his options. Taylor is reportedly seeking “at least $1.2 billion.”
- Of those expressing interest in the team is former Timberwolves player Kevin Garnett. Per Jon Krawczynski and Shams Charania of The Athletic, Garnett is “working feverishly” to put together a group of investors. Garnett made posts on his Twitter and Instagram stories expressing his intentions to buy the team and his love for Minneapolis. Other potential buyers include Zygi and Mark Wilf, owners of Minnesota Vikings.
My passion for the Minnesota Timberwolves to be a championship team is
well known but I have a deeper affection for the city of Minneapolis. I
once again want to see Minneapolis as the diverse and loving community
that I know it is. (1/2)— Kevin Garnett (@KevinGarnett5KG) July 21, 2020
No two people love the city more than myself
and Glen Taylor and I look forward to trying to work with him to
achieve my dream. (2/2)— Kevin Garnett (@KevinGarnett5KG) July 21, 2020
- It’s no secret that Garnett and Taylor have a shaky relationship. Garnett has been very open about his disdain for Taylor. Amongst many issues, Garnett was upset with how Taylor did not honor his wish to be part of the organization after his playing career ended and how he dealt with the death of long-time coach and team president Flip Saunders in 2015. In April, Garnett said he would not have his jersey retired by the Timberwolves as long as Taylor was the owner and that he “doesn’t do business with snakes.” In his Instagram story Tuesday, Garnett said, “Regardless of past feelings with Glen, I would love nothing better to become partners going forward.”
- Garnett is unquestionably the greatest player in Timberwolves history. Shortly after Taylor bought the team, the Timberwolves drafted Garnett in 1995, the first time a high school player was drafted straight into the NBA. He played his first 12 seasons in Minnesota, making ten all-star teams and winning league MVP in 2004. He is the all-time franchise leader in points, rebounds, assists, blocks, and steals. He returned to Minnesota for his final two seasons before retiring.
The most recent NBA team sold was the Brooklyn Nets last year. Joe Tsai bought the team for $2.35 billion, the largest sale of an American pro sports team ever.
