MINNEAPOLIS — The Minnesota Timberwolves may be up for sale.
According to a report from Sportico, Timberwolves owner Glen Taylor is looking to possibly sell the team and has hired The Raine Group to assist with the sale. Sportico's Editor-in-Chief Scott Soshnick says sources tell him offers have already been made.
The Timberwolves released a statement from Taylor confirming that he was approached by The Raine Group about the franchise's future, saying he "will entertain opportunities on the evolution of the Timberwolves and Lynx ownership structure."
Taylor, the chairman of Mankato, Minnesota-based Taylor Company, has been the Wolves' owner since 1994.
According to Jon Krawczynski, the Wolves' beat writer for the Athletic, The Raine Group approached Taylor with people interested in purchasing the team. Krawczynski says no deal was reached, but the group has "several other options available that are being explored," according to a tweet.
Krawczynski later tweeted Taylor told The Athletic that the franchise will remain in Minnesota.
One person who has publicly expressed interest in the Wolves is long-time NBA superstar Kevin Garnet, who wants to come back to Minnesota as an owner.
The longtime NBA superstar said Tuesday he is part of a group that is hoping to buy the franchise from Taylor.
Garnett tweeted that “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.”
Garnett began his career with the Wolves in 1995, helping lead Minnesota to its lone appearance in the Western Conference Finals following the 2003-04 season. Garnett left the team in 2007 for the Boston Celtics, where he won a NBA Championship in 2008.
After almost two seasons playing with the Brooklyn Nets, the Wolves acquired Garnett late in the 2014-15 season where he finished his playing career following the 2015-16 season.
ESPN reported that Vikings owners Zygi and Mark Wilf have also emerged as serious candidates to buy the team. The Vikings declined comment.