But Garnett doesn’t have that kind of money.
Not even close.
Word within basketball circles is that Kevin Garnett’s group that wants to buy the Timberwolves from Glen Taylor includes two billionaires from California and another from Florida. Garnett’s investment is said to be $200 million, and he would head the basketball operation with authority to name the GM and coach. Asking price is expected to be about $1.2 billion, which also includes the Lynx.
Honestly, I’d be surprised if Garnett had $200 million to put up. Maybe he’s getting his share financed?
I’m also confused why a few other people would collectively pay about a billion dollars… just so Garnett can be in charge. Though a great basketball player, Garnett has no front-office experience. A role like that – sometimes the owner himself/herself or a president of basketball operations – usually requires the big money in a bid or substantial management experience.
If Garnett can pull off an arrangement like this, he’s even smoother than I thought. That wouldn’t necessarily be good for the Timberwolves, though. As much excitement as Garnett would bring to Minnesota, he just doesn’t have the post-playing track record to inspire confidence.
I also wonder: How much is Arron Afflalo – who earned far less than Garnett in his career – posting as part of “his” group’s bid to buy the Timberwolves?