The Timberwolves and owner Glen Taylor appear to have found a buyer for the franchise, according to The Athletic's Jon Krawczynski and Shams Charania.
Taylor is reportedly in "advanced discussions" to sell the team to former Memphis Grizzlies minority owner Daniel E. Straus. An agreement has reportedly not been finalized.
Taylor's decision to sell the franchise was first reported in July. He has been Minnesota's owner since 1994, with the Timberwolves making the postseason nine times in the last 27 seasons. Minnesota snapped a 13-year playoff drought in 2017-18, but missed the playoffs in each of the last two seasons following a 19–45 campaign in 2019-20.
The Timberwolves will not leave Minnesota if they are purchased by Straus, per Krawczynski and Charania. Taylor has stipulated that any buyer must keep the team in Minneapolis.