Sep 20, 2012, 3:03 PM EDT
Glen Taylor’s priority in selling the Timberwolves is to find someone who will keep them in Minnesota and is willing to learn the business from him. Said investor would start by purchasing a quarter of the team, then mentor under Taylor as he buys more and more over time until he owned more than half.
He thought he had his man, but it turns out the search is not going quickly.
While people have lined up to talk to Taylor, he hasn’t found the right one, he told the Pioneer Press.
In July, Taylor said he and a prospective buyer “sort of” had an understanding for a deal before the coming season. Taylor would remain a minority partner in the Wolves. He said then that the new partner probably would come in as a 25 percent investor, then gradually buy more than 50 percent of the team. Those terms haven’t changed, Taylor said.
Taylor wouldn’t reveal the new interested parties, but including the initial prospect there now are believed to be three inquiring about obtaining majority interest in the Wolves.
“I continue to meet with several different parties who appear to have interest in completing a deal,” he said. “I’ll be patient and see if it works out.”
Taylor, a Minnesota senator, is not the kind of guy looking to just sell the team to someone looking to move it. Sorry Seattle.
Expect this to be a slow process. But Taylor’s efforts to find a buyer are ongoing.
Jul 29, 2015, 12:00 PM EDT
Lakers were in a bad place when Jackson first stepped away
Jul 29, 2015, 11:11 AM EDT
Brooklyn owner praises Adam Silver for filling in
Jul 29, 2015, 10:13 AM EDT
Cavaliers star also addresses his favorites – including place to play, rapper, and teammates
Jul 29, 2015, 9:26 AM EDT
He’ll likely compete with Aaron Harrison to make regular-season roster
Jul 29, 2015, 8:31 AM EDT
Cleveland’s Tristan Thompson and J.R. Smith head the list.
Jul 29, 2015, 8:00 AM EDT
Bounce passes are less effective in baseball.
Jul 29, 2015, 12:05 AM EDT
Cuban said presidential candidate is ‘probably the best thing to happen to politics in a long, long time’
Jul 28, 2015, 11:09 PM EDT
Could former summer-league standout fill Golden State’s need for an off-the-bench shooter?
Jul 28, 2015, 10:11 PM EDT
Hint, hint, hint
Jul 28, 2015, 9:16 PM EDT
Dallas also reportedly talking to Salah Mejri
Jul 28, 2015, 8:19 PM EDT
Thunder power forward was scheduled to play in African exhibition game
Jul 28, 2015, 7:24 PM EDT
Miami cleared roster room for second-round pick
Jul 28, 2015, 6:30 PM EDT
I can tell you where Batum will land next summer — whichever team offers him the most money.
Jul 28, 2015, 5:46 PM EDT
He’ll be back this fall.
Jul 28, 2015, 5:05 PM EDT
The Lakers and Knicks don’t make a ton of sense for him.
Jul 28, 2015, 4:15 PM EDT
He’s been sober four years, which is most important.
Jul 28, 2015, 3:29 PM EDT
With more number retirements in Boston on the way in a few years.
Jul 28, 2015, 2:46 PM EDT
Did Michael Jordan hijack the draft process in Charlotte again?
Jul 28, 2015, 1:54 PM EDT
Walker is expected to sign the bill to allocate funds for a new arena.
Jul 28, 2015, 1:43 PM EDT
Batum will be a free agent next summer.
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