May 3, 2013, 4:54 PM EDT
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.
- Report: Hawks’ Mike Scott told police after arrest all drugs in car were his 2
- NBA lands in Africa trying to put down roots, which is all about youth programs, infrastructure 0
- Report: Kings expected to hire Nancy Lieberman as assistant coach 8
- Report: Hawks’ Mike Scott arrested for felony drug possession 16
- Gilbert Arenas on LeBron James: “James isn’t a #1 option..and yes I (didn’t stutter)” 47
- Report: Veteran point guard Andre Miller reaches one-year deal with Timberwolves 10
- Who is still out there: Top 10 free agents still on the market 14
- Donald Trump says he’s becoming a Mavericks fan after Mark Cuban’s comments 48