Owner Glen Taylor is exploring a sale of the Timberwolves.
Taylor confirmed to The Athletic on Tuesday that he has retained The Raine Group, global merchant bank, to look into a potential sale of the team he’s owned since 1995.
Taylor told The Athletic that he will not sell the team to a group that wants to move it out of Minneapolis.
“People have inquired who are interested but they want to move the team,” he said. “They are not a candidate. We’ve made that very clear.”
Sportico, which first reported Taylor’s interest in selling the Wolves, says he’s seeking “at least $1.2 billion” for the franchise. The website also reported that a deal for the team could be agreed to within a month.
It wasn’t immediately clear how many groups have expressed interest in buying the Wolves, although former Minnesota star Kevin Garnett wrote on social media that he is part of one of them.
“I’m part of one of the groups trying,” Garnett wrote on Instagram, with fingers crossed and folded hands prayer emojis. “Lawd please let my group get this.”
