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Are the Timberwolves losing $20 million this season?

Apr 4, 2011, 6:17 PM EDT

Miami Heat v Minnesota Timberwolves Getty Images

It wouldn’t be shocking to hear the Minnesota Timberwolves were one of the NBA teams losing money, even with a $54 million payroll that is 27th in the league.

But $20 million?

That’s what is suggested in Sid Hartman’s column in the Star Tribune (via Henry Abbott at TrueHoop). Hartman also says that Kurt Rambis and more may be on the hot seat. Again, this would not be a shock. We’re a little hesitant because there are no sources listed here so please read with grains of salt.

The Wolves could lose up to $20 million and are reported to have a big debt at one of the local banks. The (NHL’s Minnesota) Wild lost some money last year and will lose some more this year, but not as much as the Wolves.

Indications are that both coaches — Kurt Rambis of the Wolves and Todd Richards of the Wild — are in danger of losing their jobs.

Glen Taylor, owner of the Wolves, has refused to say that either President of Basketball Operations David Kahn or Rambis will be back next season, although each has one more year on his contract.

“We will talk about it after the season,” Taylor said other day, giving no indication about the future of either one.

Numbers can be manipulated, so while we can question the figure, but do not doubt the Wolves are in the red. Taylor is one of the NBA owners lead negotiators in the upcoming Collective Bargaining Agreement talks. He can look across the table and say he is losing money, and nobody is going to question him. Now, whether the profits that the Bulls and Lakers turn should be used to cover those losses and not a reduction of players’ salaries is another issue.

  1. rapmusicmademedoit - Apr 4, 2011 at 7:05 PM

    the team is losing money because the owner wrote himself a huge bonus check
    and now four men can lose their job, wonderful.

  2. jimsjam33 - Apr 4, 2011 at 7:51 PM

    Kurt Rambis is a plus for the organization . They are lucky to have him . What they need is players . Players that are going to cost plenty if the organization is going to be competitive. Paid Love what he deserves and start recruiting . Don’t blame the coach . He can only compete with what he is given to play with . Rambis has not complained and the players love him . Let’s get on with some serious player aquisitions and then let’s re-evaluate . To do it now would be a travesty !

  3. goforthanddie - Apr 4, 2011 at 9:18 PM

    Damn. There really gonna be up Schitt Creek when Love leaves.

  4. smitheye - Apr 4, 2011 at 9:21 PM

    jimsjam you are obviously not a smart person

  5. jimsjam33 - Apr 5, 2011 at 1:29 AM

    smitheye ,

    You may be right ; perhaps , I am not a smart person . Intelligence is a gift and coveted by those who seek knowledge, but I am smart enough to offer an opinion on the subject . I would certainly would like to read your thoughts . I am sure the readership would love to read an inciteful , authorative , precise bit of reporting on your part. Let your genius now entertain us all . Good luck !

  6. atribecalledtwolves - Apr 5, 2011 at 12:23 PM

    Of course the Wolves are losing money, but I find it hard to believe the Wild are. They’ve sold out every game in franchise history.

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