Derick E. Hingle, Derick E. Hingle-USA TODAY Sports

Kevin Garnett has long been interested in purchasing an NBA team, and last summer, it looked like he'd have a chance to bid on the one that helped make him famous. Minnesota Timberwolves owner Glen Taylor was considering a sale of the team, and Garnett was reportedly interested in putting a group together to buy it. On Thursday, however, Garnett himself admitted that he will not be purchasing the team.

"Sooo just got the news that this process in trying to acquire the TWOLVES IS OVER for me and my group…," Garnett said on his Instagram Story. "Thx Glen for being yourself n what I Kno you to be!!! GOOD LUCK n aww the best with WHAT WE BUILT."

Garnett and Taylor have had a fractured relationship for years. Taylor accused Garnett of tanking after trading him in 2008, and Garnett was upset with how Taylor and the Timberwolves handled a tribute for his former coach Flip Saunders, who died in 2015. Garnett returned to the Timberwolves to play for Saunders prior to his death with the idea that he would one day take a leadership position in Minnesota's front office, but when Tom Thibodeau was hired as coach and team president, Garnett was denied that opportunity. He has since refused to allow his number to be retired in Minnesota due to Taylor's presence.

Taylor told The Athletic's Jon Krawcynzski that Garnett never reached out to him about purchasing the team, though. "Kevin never contacted me at all saying that he was interested," Taylor reportedly said. "Nor was his name listed on any of the buying groups that asked for financial information to review."

In February, Taylor indicated that he is no longer in a rush to sell the team. "Well, it's not coming is the best way to say it," Taylor told Charley Walters of the Pioneer Press. "I haven't found anything that for sure says I should move ahead." He went on to question the wisdom of selling his team during a pandemic, suggesting that he is willing to wait until the basketball world returns to some degree of normalcy. "The other question: Is now a good time to sell when you don't have fans? And it's not a good time."

Garnett mentioned the possibility of moving on to other possible ownership groups in different cities in his Instagram post. Las Vegas and Seattle were mentioned specifically, so if the NBA decides to expand, Garnett would likely be among the bidders on the new available teams. For now, though, that does not appear to be the league's immediate plan, so Garnett will have to wait if he wants to buy an NBA team.