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Timberwolves owner Glen Taylor takes team off market

May 3, 2013, 4:54 PM EDT

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For a while now, Timberwolves owner Glen Taylor has had the team on the market, but a sale would only happen under a specific set of circumstances. Taylor wanted the new group to take a minority interest at first and work under him. And they had to promise not to move the team out of Minnesota.

After trying that for a while, Taylor has decided to not sell the team right now, according to the Associated Press.

Taylor said Friday that he has stopped looking for a buyer for the team and will instead offer to buy out any limited partners who are looking to sell. Taylor put the team on the market last summer in hopes of finding a person or a group that would be willing to buy a minority stake to start with and then take control a few seasons down the road.

But Taylor says he couldn’t find a buyer who would guarantee the team will remain in Minnesota, and also says he felt some seller’s remorse when negotiating with several interested parties.

Taylor isn’t young, but a guy who was a state senator isn’t the kind of guy to screw over a state and sell the team to the Seattle group (for example).

Taylor is clearly thinking about the long term of the franchise with the move to replace GM David Kahn with Flip Saunders. Not that Kahn hadn’t earned this a few times over, but this is really about the relationship with Kevin Love and keeping him with the Timberwolves long term.

Taylor is also focused on keeping the Timberwolves the Timberwolves long term, apparently.

  1. erckle31 - May 3, 2013 at 5:04 PM

    Too scared of the 12th Man.

  2. Asumiendo - May 3, 2013 at 5:08 PM

    Reblogueó esto en Asumiendo.

  3. jcmeyer10 - May 3, 2013 at 5:37 PM

    And there was much rejoicing! Give this team a couple years and Minnesota will be proud to have ’em.

  4. albertmn - May 3, 2013 at 6:40 PM

    According to Flip (in an interview on local radio), he bought a stake in the team as part of his new deal with the team. No idea how much, but apparently Flip has a small stake.

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