Glen Taylor Finds Buyer For Timberwolves

July 29 2012 at 10:20pm CDT By Sean Highkin

Sid Hartman of the Star Tribune reports that Glen Taylor has found a buyer for the Minnesota Timberwolves. The buyer's identity has not been revealed, but Taylor says he expects to close a deal soon.

Initially, the mystery buyer will own around 25 percent of the Timberwolves and the WNBA's Minnesota Lynx, while Taylor will continue to own a majority stake in the teams. This will allow the new owner to slowly transition into the majority owner as Taylor's influence decreases.

Although the unknown buyer is from out of state, Taylor stressed to the Star Tribune that that, as part of the purchase agreement, he has agreed to ensure that both the Timberwolves and Lynx remain in Minnesota.

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