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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)
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

Glen Taylor Reportedly Negotiating Minority-Stake Sale of Timberwolves

Alec Nathan
Nov 12, 2015

The Minnesota Timberwolves are one of the NBA's brightest up-and-coming teams, and Memphis Grizzlies minority partner Steve Kaplan reportedly wants a piece of the action.

According to Yahoo Sports'ย Adrian Wojnarowski, "Timberwolves owner Glen Taylor is engaged in serious talks to sell an approximate 20 percent stake in the franchise" to a group led byย Kaplan.

Citing sources, Wojnarowski added Kaplan has his eyes on the Timberwolves so he can eventually make a push for majority ownership if the 74-year-old Taylor decides to sell his stake in the franchise.

Although the Timberwolves ranked as the NBA's second-least-valuable team in 2015 at $625 million, perย Forbes, the price of franchises across the Association has boomed in conjunction with the league's new television deal.

According toย Forbes' Kurt Badenhausen, the average NBA team is now worth $1.1 billionโ€”up 74 percent from 2014.

Recently, Steve Ballmer purchased the Los Angeles Clippers for a reported $2 billion before the Atlanta Hawks were sold to Antony Ressler for roughly $850 million. Months earlier, the Milwaukee Bucksโ€”the NBA's least-valuable team, perย Forbesโ€”were sold to a group led byย Wesley Edens andย Marc Lasry for $550 million.

Insider: NBA Europe on Track ๐ŸŒ