Glen Taylor Rumors
Everything beyond Wiggins and Towns is a question mark, and that’s a wonderful starting point. Season-ticket sales are up 15 percent, and the team is on pace to exceed its sponsorship revenue goal for the first time in nine years, officials say. The Target Center renovation will feature many bells and whistles, including a mammoth new scoreboard, and last week’s Yahoo! report stating Glen Taylor is finally ready to sell a minority stake to Steven Kaplan presents a road map for an orderly ownership transition. Kaplan, a private-equity mogul who owns a piece of the Grizzlies, would likely include Kevin Garnett in any majority ownership, per sources familiar with the matter. Kaplan might even let the Wolves crack the luxury tax when they are ready to contend!
Jon Krawczynski: For years Glen Taylor has wanted to bring in a minority partner who would ride shotgun for a few years before taking over the team. He had been largely unsuccessful in finding someone willing to do that. Any interested bidder has wanted to purchase team outright. Very recently, several parties have stepped forward willing to go along with a plan that would allow Glen to own team for a few more years. One of those parties, as @Adrian Wojnarowski reported, is Steve Kaplan. They have had discussions about a minority stake for him.
Jon Krawczynski: There are several other interested parties who have also come to town, had discussions with Glen. A decision does not appear to be imminent. There is no timetable for a transaction to take place. I get the sense we’re in early stages.
Jon Krawczynski: It remains unclear how a deal with Kaplan, or any other group, would affect KG’s stated desires to get into ownership. It does not mean that KG will not be an owner, eventually. But one would think it would make the path a little thornier. Again, these talks could drag on the whole season, KG could retire, and get in with a group of his own. Or maybe whoever does buy in could try to bring KG in as a minority investor as well. So many dominoes yet to fall in this.
Jon Krawczynski: The name Jason Levien has not come up in talks Kaplan has had with team officials. Doesn’t mean he’s not involved. But hasn’t come up. And finally, whether Kaplan or another bidder buys a minority stake of Wolves, it by no means guarantees he will become majority owner.