Report: Daniel E. Straus Group in 'Advanced Talks' to Buy Timberwolves, Lynx

Scott Polacek@@ScottPolacekFeatured ColumnistAugust 25, 2020

FILE - In this June 6, 2014, file photo, Minnesota Timberwolves team owner Glen Taylor speaks in Minneapolis. Neal Justin, co-chair of the StarTribune Guild, said Taylor has employed a hands-off approach since he bought the StarTribune, in Minneapolis, in 2014 and has brought stability to a publication that went through a series of owners that included a huge media company and a hedge fund. (AP Photo/Ann Heisenfelt, File)
Ann Heisenfelt/Associated Press

Former Memphis Grizzlies minority owner Daniel E. Straus is reportedly headed toward NBA team ownership again.  

According to Shams Charania of The Athletic and Stadium and Jon Krawczynski of The Athletic, a group led by Straus is "in advanced talks" to purchase the Minnesota Timberwolves and Minnesota Lynx from owner Glen Taylor.

Charania and Krawczynski explained the Straus group enjoyed an exclusive negotiating period with Taylor after the Timberwolves were publicly made available. While that agreement expired last week, the Straus group already visited Minnesota for meetings, to tour the team facilities and to review the financials.

Taylor has mandated the Timberwolves remain in Minneapolis, which is reportedly the Straus group's plan.

The report noted Hall of Famer Kevin Garnett was interested in putting together a group that could purchase the Timberwolves but has not discussed such a notion with Taylor. What's more, limited partner Meyer Orbach is not among the handful of groups to "officially enter the fray."

On July 21, ESPN's Adam Schefter reported the Wilf family that owns the Minnesota Vikings were a "serious candidate" to purchase the Timberwolves.

On that same day, Garnett took to Twitter and expressed his interest:

Kevin Garnett @KevinGarnett5KG

My passion for the Minnesota Timberwolves to be a championship team is well known but I have a deeper affection for the city of Minneapolis. I once again want to see Minneapolis as the diverse and loving community that I know it is. (1/2)

Kevin Garnett @KevinGarnett5KG

No two people love the city more than myself and Glen Taylor and I look forward to trying to work with him to achieve my dream. (2/2)

Taylor purchased the Timberwolves in 1994. They enjoyed plenty of success early in his tenure, making the playoffs eight straight years from 1997 through 2004, but have not been nearly as formidable since.

In fact, Minnesota has been to the postseason just once since that stretch.

There is reason for optimism, though, as the Timberwolves won the 2020 NBA draft lottery and already have an All-Star combination of Karl-Anthony Towns and D'Angelo Russell.