Minnesota Timberwolves for sale: How much is the NBA team worth?

Kevin Garnett could well become the second former NBA player to own a franchise after Michael Jordan, who is the owner of Charlotte Hornets. Longtime Minnesota Timberwolves owner Glen Taylor is reportedly exploring several options with the possibility of selling the team firmly on the table. Along with Kevin Garnett, Minnesota Vikings owner Zygi Wilf is also reportedly a serious candidate to purchase the NBA franchise. 

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How much is Minnesota Timberwolves worth?

According to Forbes, the Minnesota Timberwolves are worth $1.375 billion as of 2020. The Timberwolves are the third least valuable franchise in the NBA. Glen Taylor acquired the franchise in 1994 for a reported $88 million. Glen Taylor, who has an estimated net worth of around $3 billion, is reportedly seeking around $1.2 billion for the Timberwolves.  Under Taylor, the team has seen little no progress, making the playoffs just once in last 15 years. The Timberwolves were one of eight teams to not be invited for the NBA restart after ended their campaign with a dismal 19–45 record. 

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Minnesota Timberwolves for sale: Kevin Garnett and other potential suitors

While it remains unclear if the NBA Hall of Famer can finance a deal of such magnitude to buy the Timberwolves, the former Celtics star has made it evidently clear that he is one of the bidders for the franchise. Garnett posted a message to Twitter where he expressed his admiration for the team and the city of Minneapolis. Garnett, who started and ended his NBA career with the Timberwolves, said he wants the team to remain in the city and challenge for the championship. 

Since retiring in 2016, Kevin Garnett has endured a fractured relationship with current owner Glen Taylor. After the latter reportedly backtracked on his promise to hand Garnett a role in the team's management - the role which instead went to Tom Thibodeau - the 44-year-old remained distant from his beloved franchise. 

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Meanwhile, Sportico reports Glen Taylor has retained the services of the Raine Group to oversee the sale of Minnesota Timberwolves. Raine is already quite a big name when it comes to takeovers and investment into sports franchises and teams. They reportedly handled US equity firm Silver Lake's $500 million investment into City Football Group, the parent owners of Premier League side Manchester City. Previously, Raine also helped FIFA raise funds for the World Cup.

DISCLAIMER: The figures for Timberwolves and Glen Taylor net worth are sourced from other websites/publications. This website does not guarantee 100% accuracy of the figures.

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(Image Credits: AP, Minnesota Timberwolves Twitter Handle)