Kevin Garnett Part Of Group Preparing Bid For Wolves

5:24pm: Garnett wants to keep the Wolves in Minnesota if his group is successful in its bid, sources tell Charania (Twitter link).


4:58pm: Former Timberwolves star Kevin Garnett is part of a group of investors preparing a bid to submit to Wolves owner Glen Taylor in the hopes of purchasing the franchise, reports Shams Charania of The Athletic (via Twitter).

As we detailed in our earlier story about Taylor exploring a possible sale of the Wolves, Charania initially reported that Garnett’s group was seriously interested in the team and was exploring the possibility of a bid. Now it sounds as if KG’s group is close to officially putting an offer on the table.

A Hall-of-Famer, Garnett didn’t win a championship until after he was traded to the Celtics, but enjoyed the most productive years of his NBA career in Minnesota. He averaged 19.8 PPG, 11.0 RPG, 4.3 APG, and 1.6 BPG in 970 games (37.3 MPG) over 14 seasons with the Wolves, including the last couple years of his career. Garnett was a 10-time All-Star, a four-time rebounding champion, and the 2004 MVP during his time with the franchise.

However, Garnett hasn’t been on good terms with Taylor for the last several years, having previously suggested that he felt there was an understanding he would join the Wolves’ front office after his retirement — and that Taylor reneged on that agreement following the death of Flip Saunders. Still, even when Garnett has criticized Taylor, he has always stressed his fondness for Minnesota and the Timberwolves.

“My years in Minnesota and in that community, I cherish,” Garnett told Shams Charania of The Athletic in April when discussing why his number hadn’t been retired by the Wolves. “At this point, I don’t want any dealings with Glen Taylor or Taylor Corp. or anything that has to do with him. I love my Timberwolves, I’ll always love my guys, I’ll always love the people who f–k with me there. I’ll always have a special place for the city of Minneapolis and the state of Minnesota in my heart.”

Although Garnett made a staggering $343MM+ over the course of his 21-year NBA career, per Basketball-Reference, he probably isn’t in position to become the majority owner of a franchise valued at $1.375 billion by Forbes earlier this year. It’s not yet clear what other investors are part of Garnett’s group.

As we noted in our earlier story, Taylor has retained The Raine Group to explore a sale of the Timberwolves and has made it clear he’s not interested in selling to a group that wants to relocate the team. Presumably, given his connection with Minnesota, KG’s goal would be to keep the Wolves in their current location, though he has also talked in the past about wanting to bring the NBA back to Seattle.

Taylor also told Jon Krawczynski of The Athletic (Twitter link) today that if a sale is completed, he’d expect his WNBA team – the Minnesota Lynx – to be part of it.

“The way I run it, it’s all one thing,” Taylor said. “I would assume we would want to keep it that way and make it more efficient.”

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16 thoughts on “Kevin Garnett Part Of Group Preparing Bid For Wolves

  1. harden-westbrook-mvps

    Will they trade Towns to the Celtics so he can get a ring like KG did?

  2. twolvesaremynightmare

    Omg this would be a dream come true for me. I’ve been dying for Glen to sell for 15 years and KG coming back would make it that much better.

  3. Simmons>Russ

    Time for LeBron James to join the negotiations.

    Wolves are dead last in attendance last season and after being founded in 1989 they haven’t had any success. I would be surprised if they were relocated and rebranded. Considering they play in the West already, Bron could move them to Seattle, keeping them in the West and bring back the super sonically which would have a huge following.

    • natsfan3437

      Glen Taylor will put it into the negations the team can’t move (he has said it previously) and a player can not own a team because of the CBA.

    • Wyoming Bison Expansion Team

      Doubt LeBron is allowed to be part of the investment group, unless he retires. Conflict of interest if he plays against, or for, the team he invested in.

      Semi pro wasn’t a documentary man. it was a fictional comedy.

    • Simmons>Russ

      Both good calls, I wouldn’t be surprised if Bron only stayed in the league maybe 3 more years and then moves onto other ventures including eventually owning a team. Maybe not the TWolves but I’m sure he will own a team one day

  4. jeterleader

    BRING BACK THE SONICS!!!

    COPY AND REPLY ON THIS AND ALL TRADE RUMORS SITES. BRING THEM BACK

    Garnett also recently said he wanted to bring them back

    • Dodgethis

      Sonic’s moved for a reason. Only people calling for their return don’t live in Seattle.

  5. stevep-4

    “…he probably isn’t in position to become the majority owner of a franchise valued at $1.375 billion…”

    I wouldn’t be so sure. My quick calculations are that if he took his salary and got even 4% return on it over the years, and didn’t waste his money on bling, he could very well at least be the plurality owner, control something like 40-45% of the shares.

    Even at 2% compounded annually he would have 89mil in gains. Assume half went to taxes, professionals, etc. and he still would have had something like 250 mil to invest over the years, which included some massive run-ups in the stock market.

    And I agree it would be a feel-good story for him to become the second HOFer to purchase a team. Hope he has more success than MJ has had.

    • Dodgethis

      You’re assuming all his investments paid off, and he hasn’t been spending like crazy. If it was that easy everyone would be a billionaire. Like most have figured out queen James ain’t no MJ.

    • redbirds22

      Did you not see the documentary where he bought that opal from that gambling jeweler in Jersey because he thought it made him play better. He did not save wisely

  6. phillyballers

    Glen Taylor will always be the only winner here. 1.375B vs 88M purchase price. Also netting 15-40M per year up until recently, where that’s grown to 75-120M per year. The return on investment at 88M came much sooner than a 1.375B investment would return.

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