Timberwolves owner Glen Taylor tells Sid Hartman with the Star Tribune he has found the successor he has been looking for. Taylor won't reveal the future out-of-state owner's name until papers are signed, but he insists the new buyer has agreed to keep both the Wolves and Lynx in Minnesota.
Taylor has owned the Timberwolves for 18 seasons and the Lynx for 13. Initially, Taylor will sell 25 percent of the franchises and eventually the majority ownership. "It would be a deal that would leave me involved for a number of years yet, but it would be a good transition," Taylor told Hartman on Sunday.
The 71-year-old Taylor said he was looking for a partner who could eventually take his place as the majority owner of the NBA team back in May.
According to Forbes, Glen Taylor is worth $1.8 billion -- the 719th wealthiest person in the world.