Rumors about Taylor’s intentions to sell Timberwolves circled for the past several years. However, the billionaire is now set to make the final step and has already hired an investment banking firm The Raine Group to assist him with the process.

Taylor made the official announcement on Wednesday via statement posted on Timberwolves’ social media.

Minnesota Timberwolves are valued at $1.4 billion, but Taylor would reportedly be willing to settle for $1.2 billion in the circumstances of coronavirus pandemic. He won’t lack suitors, as several parties already expressed interest in purchasing the franchise.

According to ESPN, Minnesota Vikings’ owners The Wilf family emerged as early favorites to buy the Timberwolves, while the team’s minority owner and real estate developer Meyer Orbach is also making a strong push. Hall of Famer and Timberwolves’ legend Kevin Garnett is believed to be forming a group in an attempt to get into the race.

Discussing his sale terms with The Athletic, Taylor said that he won’t deal with parties that want to move the team.

“People have inquired who are interested but they want to move the team,” said Taylor. “They are not a candidate. We’ve made that very clear.”

Minnesota Timberwolves joined the NBA as an expansion team in 1989. Their biggest success was the Midwest division title during the 2003/04 season when they also made it to Western Conference Finals. This was also the only time in their history that the team made it past the First Round.

The post Minnesota Timberwolves are Up For Sale appeared first on yoursportspot.com.

“We offered him the extension, and they’ve met and come back to us and said they’re really appreciative of it, they appreciate that we got to them right away and all that, but they declined it,” – Taylor told ESPN 1500. “They said, ‘You guys have done everything and we’re very appreciative, but our bet is that we should wait ’til next year and we could get ourselves a better deal.’ … We did everything we could, and they want to do what they think is right for Jimmy.”

While Taylor declined to specify the exact offer Timberwolves presented to Butler, ESPN reports that they offered four-years, $100 million deal to the 28-year-old. He is currently earning $16.4 million.

“Jimmy’s taking some gamble here, too,” – Taylor added. “That he won’t get injured or that for some reason or another, he has a bad year. Both of us are taking some risk. I think the main thing is we have to play really well this year and be very competitive, and I think Jimmy, as other star players, will want to play on a team that does well and has the potential of doing better.”

Minnesota Timberwolves traded for Jimmy Butler in the summer of 2017, wanting to pair him with their young stars Karl Anthony Towns and Andrew Wiggins and finally make the postseason for the first time in 14 years. Butler did help the Timberwolves to snap NBA’s longest active playoff drought, but they were eliminated in the first round by the Houston Rockets. Despite struggling with injuries, Butler put out respectable numbers in the last season, averaging 22.2 points, 5.3 rebounds, and 4.9 assists per game.

Now the fact that Jimmy Butler rejected the extension from the Timberwolves might be a financial decision. The salary cap is expected to rise next year which could potentially bring Butler a lot more money if he continues to play on this level. However, there are rumors around the league that Butler is becoming irritated by the attitude of Minnesota’s young stars and that he is looking to go somewhere else in the summer of 2019.

The post Jimmy Butler Rejected 4 years, $100 million Extension Offer from Timberwolves appeared first on yoursportspot.com.

Rumors about Taylor’s intentions to sell Timberwolves circled for the past several years. However, the billionaire is now set to make the final step and has already hired an investment banking firm The Raine Group to assist him with the process.

Taylor made the official announcement on Wednesday via statement posted on Timberwolves’ social media.

Minnesota Timberwolves are valued at $1.4 billion, but Taylor would reportedly be willing to settle for $1.2 billion in the circumstances of coronavirus pandemic. He won’t lack suitors, as several parties already expressed interest in purchasing the franchise.

According to ESPN, Minnesota Vikings’ owners The Wilf family emerged as early favorites to buy the Timberwolves, while the team’s minority owner and real estate developer Meyer Orbach is also making a strong push. Hall of Famer and Timberwolves’ legend Kevin Garnett is believed to be forming a group in an attempt to get into the race.

Discussing his sale terms with The Athletic, Taylor said that he won’t deal with parties that want to move the team.

“People have inquired who are interested but they want to move the team,” said Taylor. “They are not a candidate. We’ve made that very clear.”

Minnesota Timberwolves joined the NBA as an expansion team in 1989. Their biggest success was the Midwest division title during the 2003/04 season when they also made it to Western Conference Finals. This was also the only time in their history that the team made it past the First Round.

The post Minnesota Timberwolves are Up For Sale appeared first on yoursportspot.com.

“We offered him the extension, and they’ve met and come back to us and said they’re really appreciative of it, they appreciate that we got to them right away and all that, but they declined it,” – Taylor told ESPN 1500. “They said, ‘You guys have done everything and we’re very appreciative, but our bet is that we should wait ’til next year and we could get ourselves a better deal.’ … We did everything we could, and they want to do what they think is right for Jimmy.”

While Taylor declined to specify the exact offer Timberwolves presented to Butler, ESPN reports that they offered four-years, $100 million deal to the 28-year-old. He is currently earning $16.4 million.

“Jimmy’s taking some gamble here, too,” – Taylor added. “That he won’t get injured or that for some reason or another, he has a bad year. Both of us are taking some risk. I think the main thing is we have to play really well this year and be very competitive, and I think Jimmy, as other star players, will want to play on a team that does well and has the potential of doing better.”

Minnesota Timberwolves traded for Jimmy Butler in the summer of 2017, wanting to pair him with their young stars Karl Anthony Towns and Andrew Wiggins and finally make the postseason for the first time in 14 years. Butler did help the Timberwolves to snap NBA’s longest active playoff drought, but they were eliminated in the first round by the Houston Rockets. Despite struggling with injuries, Butler put out respectable numbers in the last season, averaging 22.2 points, 5.3 rebounds, and 4.9 assists per game.

Now the fact that Jimmy Butler rejected the extension from the Timberwolves might be a financial decision. The salary cap is expected to rise next year which could potentially bring Butler a lot more money if he continues to play on this level. However, there are rumors around the league that Butler is becoming irritated by the attitude of Minnesota’s young stars and that he is looking to go somewhere else in the summer of 2019.

The post Jimmy Butler Rejected 4 years, $100 million Extension Offer from Timberwolves appeared first on yoursportspot.com.