MINNEAPOLIS (AP) – A person with knowledge of the talks tells The Associated Press that Minnesota Timberwolves owner Glen Taylor is in discussion with several parties about selling a minority stake in the franchise.
The person spoke Friday on condition of anonymity because he was not authorized to speak publicly for all parties involved.
Taylor has tried for several years to find a minority partner to buy a small share of the team with the intention of eventually purchasing a majority stake a few years down the road. A handful of candidates have stepped forward only recently.
One of those is Stephen Kaplan, a minority partner with the Memphis Grizzlies who tried to buy the Atlanta Hawks last year. Yahoo! Sports first reported Kaplan’s interest.