Steve Kaplan's Talks to Become Timberwolves Minority Owner Reportedly Stall

Mike Chiari@mikechiariFeatured ColumnistMarch 4, 2016

FILE - In this June 6, 2014 file photo, Minnesota Timberwolves team owner and printing company billionaire Glen Taylor speaks in Minneapolis. The Star Tribune said Monday, June 30, 2014 that Taylor has completed his purchase of the Minneapolis newspaper and is now the sole owner. Terms were not disclosed, but Taylor has put the purchase price around $100 million. (AP Photo/Ann Heisenfelt)
Ann Heisenfelt/Associated Press

Memphis Grizzlies minority owner Steve Kaplan's attempt to buy a stake in the Minnesota Timberwolves reportedly hit a snag this week.  

According to the Associated Press (h/t, Kaplan met with T-Wolves owner Glen Taylor prior to Wednesday's game against the Washington Wizards, but talks reportedly haven't progressed as hoped due to Kaplan's struggles to get out of his ownership responsibilities with the Grizz.

Kaplan has reportedly been trying to buy a 30 percent stake in the team, which would eventually evolve into majority ownership whenever Taylor decides to step down.

Per the Associated Press (h/t, the original plan called for Kaplan to come into power before the end of the 2015-16 season, but that seems unlikely given his current situation.

While this season has been another difficult one for the Timberwolves with a record of 19-42, they have an extremely bright future due to the presence of a pair of rising stars in forward Karl-Anthony Towns and guard Andrew Wiggins.

Putting players around them and figuring out if Sam Mitchell and Milt Newton are the right men for the head coach and general manager roles, respectively, are the biggest challenges that lay ahead for the organization during the upcoming offseason and beyond.

It stands to reason Kaplan would have been a significant part of that process due to his eventual plans to take full control of the franchise, but that is now in jeopardy.

Although that doesn't mean a deal won't happen eventually, the Timberwolves are now somewhat stuck in limbo. Taylor seems willing to stay on until well after a resolution is reached, but the longer the process drags on, the more difficult it may be to move on to the process of molding the T-Wolves into playoff contenders.


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