(The Athletic) - As Minnesota Timberwolves owner Glen Taylor’s search for a successor reaches its second month, one group’s interest has stood out above the rest.
An investment group led by former Memphis Grizzlies minority owner Daniel E. Straus is in advanced discussions to buy the Timberwolves and Lynx from Taylor, sources told The Athletic.
The sides still have issues to resolve before any full agreement can be completed, sources said.
The Timberwolves’ availability was first reported on July 21, which is roughly the time that the Straus Group entered into an exclusive negotiating agreement with Taylor. Representatives from the Straus Group visited the Twin Cities two weeks ago for official meetings, toured the team facilities and reviewed financials as part of their due diligence. The sides had entered an exclusivity agreement that formally expired last week, and both parties have continued discussions about a deal, sources said. Those sources added that Straus would keep the Timberwolves in Minneapolis, as Taylor has mandated for his sale.
Preliminary documents are being drawn up, and the group plans to press forward with negotiations to try to get a deal done.
The Athletic reported that Taylor had received initial interest from six to seven groups, but the Straus Group has emerged as the frontrunner, and their talks have been the most extensive to this point.
Franchise icon Kevin Garnett has expressed an interest in putting together a group to buy the team, but he has not had formal discussions with Taylor to this point, sources said. Garnett is not involved with the Straus group, according to sources.
I'm sorry, but what the shit is this? Do the Minnesota Timberwolves want to stop being a laughingstock in the league or not? Is it possible they are this clueless? I thought we already had this decided. The second Kevin Garnett announced he was interested and was putting a group to buy the Timberwolves I thought we had a done deal. Take the time and figure out the details, but the only play was to give control of this franchise to KG. Now I'm reading they haven't even had a formal discussion about it? Is this because of what KG said a few years ago about Glen Taylor calling him a snake or something? Call me crazy, but you could call me every name under the sun if you were going to write me a check that started with a "B". I don't care who this Daniel Straus guy is because what I do know is he's not Kevin Garnett.
Nobody, and I mean nobody loves MIN and the Timberwolves more than KG. It was the one thing that franchise could do to help turn around their basketball fortune. You do something like this after you get the #1 pick? Well I think we can all agree that if this team goes to anyone else but KG that pick is now cursed. I wouldn't trade for that thing under any circumstances. If the Wolves keep it, no chance they pick the right player now. You cannot mess with basketball karma like that which is why this whole thing is so confusing to me.
This has me feeling for my MIN friends and any Twin City stoolies out there. They don't have a whole lot to root for when it comes to this franchise, but KG coming in was their last glimmer of hope. Now they have to deal with -50 degree winters and a basketball team that will still suck ass. Only a matter of time before KAT demands to be traded now. This was the easiest layup in the history of layups. After decades of being terrible the one person who had success with this franchise wanted to come back and save it and you don't even have a formal discussion about it? You idiots.
KG would have brought new life into this new era of Timberwolves basketball, fan interest would have gone up, it was a no brainer decision. Now I can't help but think the Wolves will be stuck in basketball purgatory forever and are going to waste KAT's prime. On the plus side this just means Danny Ainge will probably be able to trade him for 60 cents on the dollar so maybe this is actually something I should be in favor of. But some of my best friends are from Minnesota and I can't help but feel for their pain. They deserve the hope that KG would bring and the fact that they probably won't get it stinks.