Wolves owner Glen Taylor in talks to sell 20 percent of team - Bring Me The News

Wolves owner Glen Taylor in talks to sell 20 percent of team

Author:
Updated:
Original:

Glen Taylor confirmed to the Star Tribune Friday that he's had talks with groups about selling a minority share of the Timberwolves. Yahoo Sports' Adrian Wojnarowski first reported that Taylor is in "serious negotiations" to sell 20 percent of the team.

The proposed buyers, per the Yahoo report, are a group headlined by Memphis Grizzlies minority partner Steve Kaplan, and Wojnarowski reports that the group's ultimate goal is to become majority owners of a team, although "there's no assurance Kaplan's group would have an inside track on eventual majority ownership."

Taylor confirmed that Kaplan is involved, but he's only talking to buyers who would keep the team in Minnesota if they were to eventually take on majority ownership.

Kaplan's group tried to buy a majority share of the Atlanta Hawks but fell short in 2014, Yahoo notes.

According to the Star Tribune, Taylor declined to comment following the Timberwolves' 129-116 loss to the undefeated Golden State Warriors Thursday night.

The paper adds that Taylor has said he has no intention of selling the majority share of the team for the foreseeable future.

Forbes valued the average NBA team in 2015 at $1.1 billion, although it listed the Timberwolves' 2015 valuation at $625 million.

Kevin Garnett has also publicly said he hopes to someday own a share of the Timberwolves.

Next Up

Danielle Hunter, Everson Griffen

Vikings will face Everson Griffen twice after trade to Lions

The former Vikings star was traded to Detroit for a fifth-round pick.

Jordana Green

WCCO Radio's Jordana Green diagnosed with leukemia

"I got this," Green wrote on her Facebook page.

CrispAndGreenPhoto

Minnesota-based Crisp & Green adds 20 locations in four states

The four-year-old local business says it's going national

victoria burrow pizza

Fair-inspired entertainment venue opening at Mall of America

Fair on 4 will feature axe throwing, go carts and more.

cheers-2636510_1280

Canceled: The Halloween bar crawl that no bars knew about

The dubiously organized event was planned for this weekend in Minneapolis.

covid saliva test

St. Cloud gets Minnesota's 6th COVID-19 saliva testing site

Four more sites are expected to open in the Twin Cities in the coming weeks.

burnsville center

Part of Burnsville Center is being auctioned off

More than 500,000 square feet of the mall is being auctioned off.

State Capitol

Elections 2020: Control of Minnesota's divided Legislature is up for grabs

Redistricting and responding to COVID-19 are among the issues the new legislature will have to deal with.

ambulance

Rochester woman found dead in the snow after leaving senior residence

The woman left the senior living center around 2:30 a.m. Monday.

Screen Shot 2020-10-27 at 10.43.19 AM

Investigation: Sprinklers could have saved 5 killed in Minneapolis high-rise fire

The deadly fire broke out at the Cedar-Riverside apartment block last November.

coronavirus, covid-19

Here is Minnesota's COVID-19 update for Tuesday, October 27

Hospitalizations continue to rise quickly in Minnesota.

Associate wearing PPE 2

Amazon looking to hire 1,000 seasonal workers in Minnesota

The retail giant is hiring 100,000 nationwide.

Related