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:
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.