Taylor announced in a July 21 statement that he has brought on the global merchant bank known as The Raine Group to explore a potential sale of the team.
“I was recently approached by The Raine Group to discuss the future of our franchise,” wrote Taylor, “From the time I bought the team in 1994, I have always wanted what’s best for our fans and will entertain opportunities on the evolution of the Timberwolves and Lynx ownership structure.”
In an interview with The Athletic, Taylor maintained that he will not sell the Timberwolves to an ownership group that wants to move them out of Minneapolis.
“People have inquired who are interested but they want to move the team,” Taylor said, “They are not a candidate. We’ve made that very clear.”
According to Sportico, Taylor is seeking “at least $1.2 billion” for the Minnesota franchise. It has also been reported that a deal for the T-Wolves could be agreed to in as soon as a month, but Taylor made it clear to The Athletic that nothing yet is imminent.
Former Timberwolves superstar Kevin Garnett wrote on social media that he is a part of one of the ownership groups that have expressed interest in purchasing the franchise from Taylor.
‘I’m part of one of the groups trying,” Garnett wrote on a July 21 Instagram story, with fingers crossed and folded hands praying emojis. “Lawd please let my group get this.”
Garnett shared his thoughts more formally on a July 21 Twitter post expressing his interest in purchasing the franchise along with his love for the Timberwolves organization and the city of Minneapolis as a whole.
“My passion for the Minnesota Timberwolves to be a championship team is well known but I have a deeper affection for the city of Minneapolis. I once again want to see Minneapolis as the diverse and loving community that I know it is,” wrote Garnett.
“No two people love the city more than myself and Glen Taylor and I look forward to trying to work with him to achieve my dream.”
In regard to the timing of his sale of the Timberwolves, Taylor told The Athletic that he feels good about the current state of the franchise after a period of uncertainty following Flip Saunders’ untimely death. According to Taylor, the main factors that led to his decision to sell the team included the desire of some of the limited partners to move on, his work with other companies that he owns, his age (79) and the uncertainty of America’s economy caused by the coronavirus.