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' 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 by 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, per Forbes, the price of franchises across the Association has boomed in conjunction with the league's new television deal.
According to Forbes' Kurt Badenhausen, the average NBA team is now worth $1.1 billion—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 Bucks—the NBA's lea ...
Read Full Article at Bleacher Report - NBA
Article written by Alec Nathan
Glen Taylor Reportedly Negotiating Minority-Stake Sale of Timberwolves
November 12th, 2015 by Alec Nathan Leave a reply »
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