Updated:
Original:

Glen Taylor exploring sale of the Minnesota Timberwolves

The billionaire has owned the Wolves since 1994.

Minnesota Timberwolves owner Glen Taylor is exploring the possible sale of the team, it's being reported.

Sports business news site Sportico reports that Taylor has retained The Raine Group to explore possible bidders for the franchise he bought for $88.5 million in 1994.

The billionaire businessman and chairman of Taylor Corporation also owns the Minnesota Lynx and the Star Tribune newspaper.

Sportico says that the potential sale isn't related to the downturn caused by the COVID-19 pandemic.

It's been reported for several years that Taylor was considering an exit from the Wolves, with the Star Tribune reporting in 2015 that he was actively looking to sell a minority stake in the team.

There has also been pressure from fans calling on him to sell up, given the Wolves historically poor performance – the Kevin Garnett years aside.

What's more, The Athletic's Shams Charania is reporting that Garnett and a group of investors is seriously considering a bid for the team.

Sign up for our BREAKING NEWS newsletters

Next Up

Joel Eriksson Ek

Eriksson Ek's hat trick completes Wild's rally over Jets

A late review helped the Wild win their home opener.

Screen Shot 2021-10-19 at 8.11.35 PM

Watch: Marcus Foligno starts fight with a superman punch

Foligno was not messing around in the first period.

Union Gospel Mission graffiti side by side - Duluth PD

Vandals target longstanding Duluth soup kitchen, transitional housing site

Union Gospel Mission has been operating in the city since 1922.

i-94 crash st. michael - 2021.10.19

At least 1 dead after 'serious crash' on I-94 in St. Michael

That side of the highway is expected to be closed for at least a few hours.

House for sale

The crazy Twin Cities housing market is showing signs of slowing down

Agents are seeing fewer multiple offers and no inspections are less prevalent.

Ben Simmons

Simmons' reunion with 76ers lasts mere days, chance for Wolves?

Woj says the Sixers remain "steadfast" in their plans for Simmons.

mitchell ottinger

Sub teacher involved in 'sextortion' of more than 10 minors pleads guilty

Some of the minors he knew from the school district where he worked.

flickr ice castles new brighton 2020 - Greg Gjerdingen

The Ice Castles, a winter favorite, are coming back to the Twin Cities

The popular attraction was canceled last winter due to COVID.

joey meatballs

4 new vendors coming to Rosedale's POTLUCK food hall

Three restaurants and a VR company are opening soon.

flickr - Lorie Shaull - Line 3 pipeline Palisade July 2021

Enbridge misses deadline to fix its groundwater blunder

The company had 30 days to stop the leak it caused by not following its submitted plans.

wikimedia commons - the beach boys 2019 - joergens.mi

Beach Boys bringing 2021 holiday tour to Minnesota

The iconic band's "Holiday Harmonies" tour stops at Treasure Island just before the new year.

Related

Kevin Garnett

Kevin Garnett calls Timberwolves owner Glen Taylor a 'snake'

Garnett didn't hold back in an interview with Shams Charania.

Kevin Garnett

Garnett says buying the Timberwolves would 'achieve my dream'

Glen Taylor has confirmed reports that he's listening to offers.

Glen Taylor

Key decision by Glen Taylor allowed Wolves to get D'Angelo Russell

It was either enter the luxury tax or bust for the Wolves.

Glen Taylor

Report: Taylor selling Wolves, Lynx without relocation protection

The top minority shareholder has filed a lawsuit against Taylor.

Glen Taylor on Jimmy Butler: 'We're not going to get the perfect deal'

The Wolves owner said half the teams in the league have inquired about Butler.