We know two things about the next owner of the Minnesota Timberwolves:
1) He/She will be incredibly rich.
2) It will not be Kevin Garnett and his group of investors.
Garnett — who had had a rocky relationship with current owner Glen Taylor for years — was pretty salty when posting on social media that his group was not included in the next phase of working out a sale of the team.
Kevin Garnett will no longer pursue purchasing the Minnesota Timberwolves. pic.twitter.com/4z1PQY6I1S
— Sports Illustrated (@SInow) March 4, 2021
Taylor, for his part, said KG’s group did not make an inquiry.
Talked briefly w/ Taylor. "More than 10 groups have made an inquiry." However, he wanted to make clear that KG or a group w/ KG was not among those 10. That KG post surprised him. Did say some parties are finishing their due-diligence, sale process has picked up. #Timberwolves
— Darren Wolfson (@DWolfsonKSTP) March 4, 2021
I find it difficult to believe Garnett’s group did not throw its hat in the ring and start the process. Whether or not Taylor would have sold to the group — or if it even would have been the best offer — are questions we will never know the answer to. Although, it seems doubtful Garnett and Taylor could have made it work.
The buzz around the league is there is a lot of interest in groups to buy the Timberwolves, but most would want to move the team to another city (the team has a lease for the Target Center until 2035, but the cost of breaking it is “only” $50 million, a number that is not going to scare off a buyer who is spending $1 billion on the team). Taylor is looking for an owner who will keep the Timberwolves in Minnesota, but that has narrowed the field of bidders. Minnesota’s on-court struggles are not helping the sale price.
There is no timeline, but by Taylor’s own words the process seems to be moving along.