An investment group headed by former Grizzlies minority owner Daniel Straus is in advanced talks to buy the Timberwolves, The Athletic’s Jon Krawczynski and Shams Charania report.
The WNBA’s Minnesota Lynx would also be part of the deal. However, there are still a number of issues to be resolved before the sides reach an agreement.
The initial report about Timberwolves owner Glen Taylor mulling the sale of the team surfaced on July 21.
While a group that included former Wolves superstar Kevin Garnett was reportedly interested, the Straus Group has shown serious interest from the start. Its representatives visited the Twin Cities two weeks ago for official meetings, toured the team facilities and reviewed financial documents, according to The Athletic duo.
It entered an exclusivity agreement that expired last week. That didn’t slow the talks, though a handful of other groups were also initially interested in purchasing the team.
Garnett has not had formal discussions with Taylor during the process. Their relationship deteriorated over the years. Garnett referred to Taylor as a “snake” as recently as this spring.
Taylor reportedly wanted assurances that the franchise will remain in Minneapolis and Straus has made that pledge, The Athletic duo adds.
Wolves 2020-21 salary
Current Total 96 million
3 Draft picks 14 million
Beasley 15 million a year
The rest gets minimum
the Worst bench in the NBA
There is no need to pay tax,
Solid offensive team, everyone plays offense
Starters
Edwards
DLo
Towns
Beasley
James Johnson
I’m the shortened session or bench was 12th in OEFF and 15th in DEFF. Not digging we were a good team, but apparently baseless assertions are cool?
I checked defensive efficiency for all players
No Wolves is on top 200.
“Taylor reportedly wanted assurances that the franchise will remain in Minneapolis and Straus has made that pledge, The Athletic duo adds.”
Mr. Taylor: Get that in writing.
Usually the price would go down if you want everything in writing.
If I were Straus, I would demand condition agreement.
If Minny does not meet the condition, I will move out of town like Seattle.
Garnett has no chance and should not have wasted his “love the special town” comments on Minneapolis. Whatever he said exactly
When the Lakers left Minneapolis for Los Angeles, in the olden days of NBA, they kept their name, even if there’s not a single lake in LA area. It would have been cool if Straus was to relocate Timberwolves to Las Vegas, and still keep the name. Just like the ridiculousness that is the name Utah Jazz.
The LV DesertLobos
The LV Sandogs
The LV WaterRobbers
What’s a water-robber?
LV, a city that robs Utah of their groundwater so they can gamble longer.
Back in the day, wolves were everywhere including what is now known as Vegas…coronavirus spreading capitol of the US.
I like how, when teams come up for sale, there is always an article on how such and such celebrity is putting together a bid. Then the owner usually winds up selling to some other billionaire.
I thought Garnett lost most of his $$$ to a shady investment guy…
Garnet has enough to get in as minority owner. Just having him as part of team is an asset. And makes it more valuable. I hope he can do more than talk a big game. Cause as we can all see in Charlotte. Being a star or great player. Is not a guarantee that your team will be. KG was major in Minnesota. I hope he can get in with billionaire.
Not a fan of teams keeping names when they move. They are representing the city they are at. It’s the people’s and cities name. They should leave it when they leave. Jazz have no business being in Utah. Lakers , are there any lakes in LA.