Minnesota Timberwolves owner Glen Taylor looking to sell the franchise, talking to three interested parties – NBA News
Minnesota Timberwolves owner, Glen Taylor, is taking his plans of selling his majority stake in the franchise to a more serious level, and is now discussing the possibility with three different buyers. Taylor, who bought the Wolves
back in 1994, is 71 now and wants to hand over the responsibility of the franchise to someone else while he is still healthy so as to ensure that the franchise stays in Minnesota.
Taylor revealed in July this year that he was considering a buyer from outside Minnesota to sell his stake to, which would make the new buyer the majority share holder of the franchise. However, he has now added two more prospective
buyers to that list and is currently busy negotiating with them.
“At first I opened it up to just one person and said I would 'hold it for you for a while,' but when we didn't get a deal done, I told that person there are other people who had made inquiries and that I'm going to talk to them,
and that's what I'm doing now,” said Taylor.
Taylor did not reveal the identities of the two parties, nor did he give any details on the negotiations process. However, he does seem serious in selling his shares in the franchise soon, and also said that the sale agreement
would require the new owner to keep the franchise in Minnesota.
The Minnesota Timberwolves are being considered as one of the up and coming teams in the Western Conference, and have a true franchise player in Kevin Love to lead them into the new era. The Wolves had a busy offseason, adding
Andrei Kirilenko and Brandon Roy to the line-up which already includes Love and Ricky Rubio, making them contenders for the playoffs this coming season.
Taylor is currently working on a proposal to fund renovation in the Target Center, the home of the Wolves, in the hopes of attracting more buyers and getting a good deal.
The Wolves will be an interesting franchise to follow next season, and in case Taylor is able to find an energetic buyer committed to the Wolves future, the franchise will have a good future.
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