Former NBA veteran Kevin Garnett previously expressed his interest to assemble a group that would eventually buy a stake in the Minnesota Timberwolves. However, due to the effects of the ongoing COVID-19 pandemic, talks have been stale between team owner Glen Taylor and other interested parties, including Garnett.
That's not to mention that fans are still not allowed to watch the games live, which would further hinder the teams from gaining revenue during these times. According to the sources of Brian Windhorst of ESPN, the Timberwolves franchise is currently valuated in the $1.3 to 1.5 billion range plus debt.
“I think Glen was hoping team values were still going up,” one owner said per Windhorst. “I think we're finding out they may not be right now.”
Taylor has already put the team up for sale in the past, back in 2012, 2015, and most recently, in July of 2020. However, he already pulled back his sale and turned down offers from interested buyers on numerous occasions, making the process harder for bidders to acquire the team.
The leading candidate to win the sweepstakes is a group led by Daniel Straus. He is a healthcare magnate based in New Jersey. He's also acted as a former minority owner of the Memphis Grizzlies. Though Straus remains to be the favorite, talks have reportedly become stale between him and Taylor.
Hopefully, Timberwolves icon Kevin Garnett will be given an opportunity to buy the team despite his verbal spat with Taylor in the past and finally steer the franchise in the right direction.
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