The Minnesota Timberwolves are for sale.
Billionaire owner Glen Taylor has retained The Raine Group to sell the franchise he’s owned since 1994. There are several parties who have bid on the team, according to two people with direct knowledge of the matter. A deal could be completed within a month, one of the people said.
Taylor issued a statement confirming The Rain Group’s involvement in the sale.
“I was recently approached by The Raine Group to discuss the future of our franchise. From the time I bought the team in 1994, I have always wanted what’s best for our fans and will entertain opportunities on the evolution of the Timberwolves and Lynx ownership structure,” the statement said.
Source: Scott Soshnick of Sportico
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