Glen Taylor has considered selling the Minnesota Timberwolves and Lynx on multiple occasions, but is now getting closer to really doing so than ever. Taylor is in advanced negotiations sell both teams to a group led by Daniel E. Straus, former minority owner of the Memphis Grizzlies, according to Shams Charania and Jon Krawczynski of The Athletic.
An agreement has not yet been concluded and there are still obstacles to overcome, but Taylor and Straus have entered into an exclusive negotiation agreement. That deal has since expired, but the two sides are still actively negotiating a potential deal. Straus made a fortune in healthcare. He sold his stake in the Grizzlies in 2018. His background as a former minority owner theoretically makes him a preferable buyer, as the league’s valuation process would have been significantly easier having already had him in his facility.
The presence of Straus as an alleged favorite to purchase the Timberwolves throws a key in Kevin Garnett’s possible interest in purchasing the team. Previous reports suggested that Garnett wanted to form a group to buy the Timberwolves with him running basketball operations, but according to Charania and Krawczynski, there were no formal conversations between Taylor and Garnett. The two have a strained relationship that dates back to Garnett’s gaming days. His number did not retire in Minnesota despite leading the team in most statistical categories because Garnett did not want to be associated with the team while Taylor still owned him.
Even minority owner Meyer Orbach, allegedly favorite to take over from Taylor one day, hasn’t officially bid yet as he works to form a group to do so. Taylor has owned the Timberwolves since 1994, most of their existence. Taylor is looking for a new owner who is committed to keeping the team in Minnesota, according to the report. However, given its history of considering sales without pulling the trigger, nothing should be considered final until an agreement is officially reached.