Glen Taylor has considered selling the Minnesota Timberwolves and Lynx on multiple occasions, but he is now moving closer to actually doing so than ever before. Taylor is in advanced talks to sell both teams to a group led by Daniel E. Straus, a former minority owner of the Memphis Grizzlies, according to The Athletic's Shams Charania and Jon Krawczynski.
A deal is not yet done, and there are still hurdles to overcome, but Taylor and Straus entered into an exclusive negotiating agreement. That agreement has since expired, but the two sides are still actively negotiating a potential deal. Straus made his fortune in health care. He sold his stake in the Grizzlies in 2018. His background as a former minority owner theoretically makes him a preferable possible buyer, as the league's vetting process would be significantly easier having already had him within its structure.
Straus' presence as the presumptive favorite to buy the Timberwolves throws a wrench in Kevin Garnett's possible interest in purchasing the team. Previous reports suggested that Garnett wanted to form a group to purchase the Timberwolves with him running basketball operations, but according to Charania and Krawczynski, there have been no formal conversations between Taylor and Garnett. The two have a strained relationship going back to Garnett's playing days. His number is not retired in Minnesota despite him leading the team in most statistical categories because Garnett did not want to be associated with the team while Taylor still owned it.
Minority owner Meyer Orbach, a presumed favorite to one day take over for Taylor, has also not officially placed a bid yet as he works to form a group to do so. Taylor has owned the Timberwolves since 1994, the majority of their existence. Taylor is seeking a new owner that will commit to keeping the team in Minnesota, according to the report. However, given his history of considering sales without pulling the trigger, nothing should be considered final until a deal is officially reached.