The Minnesota Timberwolves may have a new owner for the first time since 1995, as Glen Taylor is reportedly exploring a sale of the team.
According to Sportico’s Scott Soshnick, Taylor has retained the services of The Raine Group to seek private bids for the franchise — rather than hold a public auction — and is hoping to get an offer of $1.2 billion for the team.
Billionaire owner Glen Taylor has retained The Raine Group to sell the franchise he’s owned since 1995, according to three people with direct knowledge of the matter. There are several parties who have bid on the team, two of the people said. A deal could be completed within a month, one of the people said.
The Timberwolves saw a tremendous amount of success early in Taylor’s tenure, thanks in large part to the presence of Kevin Garnett, but since Garnett’s departure they have only made the playoffs once in 13 years. Garnett has long been critical of Taylor, explaining how he refuses to be part of the organization or involved in anything, including a jersey retirement, as long as Taylor is around. If the Sportico report is true, it appears he could get his wish much sooner than expected, as the Timberwolves may have new ownership before next season.
We will have to wait to see who emerges as a potential ownership group, but if someone new takes over, one of the first steps will be mending fences with the franchise’s most legendary star.
