The Minnesota Timberwolves and owner Glen Taylor have announced their intention to purchase majority ownership of the NBA D-League's Iowa Energy.
Minnesota now becomes the 18th NBA team to own and operate a D-League affiliate.
"We're thrilled to bring the Iowa Energy into the Timberwolves family," said Taylor. "It's great knowing that we can develop our young players so close to home and enjoy all the other benefits that come with owning a D-League team. We look forward to growing our relationship with the greater Des Moines area, the state of Iowa and basketball fans across the Upper Midwest."
Iowa is one of the most decorated teams in the NBA D-League. They are in their 10th year and have won four division titles (2009, 2010, 2011, and 2014) and won the NBA D-League Championship in 2011.
They had been in a hybrid agreement with the Memphis Grizzlies for the last three seasons. The arrangement comes to an end at the conclusion of the 2016-17 season.
"It's an exciting time in the NBA D-League as we welcome Glen Taylor and the Minnesota Timberwolves to our ownership ranks," said D-League President Malcom Turner. "The Timberwolves are the latest in an ever-growing list of NBA teams that recognize the value an NBA D-League team brings to a franchise – a trend I'm confident will continue as the league grows to 30 teams."
The league says 40 percent of players drafted into the NBA since 2005 have spent time in the D-League, including several Wolves' players like Cole Aldrich, Tyus Jones, Shabazz Muhammad and Adreian Payne.