Ex-Grizzlies minority owner nearing purchase of Timberwolves
Minnesota Timberwolves owner Glen Taylor is close to an agreement to sell the team to a group fronted by former Memphis Grizzlies minority owner Daniel Strauss, according to Shams Charania and Jon Krawczynski of The Athletic.
Taylor told Krawczynski in late July that he was looking to sell the franchise.
“I think I put a really good team together with the Timberwolves,” Taylor said. “I feel really good about that. There’s a good team there. Both the player bunch and the business bunch. So I think I’ve done my responsibility there to have that so it can go on and become better.”
The WNBA's Minnesota Lynx would be part of the sale, per The Athletic.
While there are several issues that need to be resolved, according to the report, "documents are being drawn up, and the group plans to press forward with negotiations to try to get a deal done."
Former Timberwolves star Kevin Garnett admittedly was part of a separate group looking to buy the team.
Taylor, 79, has owned the Timberwolves since 1995. He has retained The Raine Group to handle the sale, according to Scott Soshnick of Sportico, who broke the news.