Emailed on July 24, 2020 in The Friday Forward

Glen Taylor is seeking a buyer for the Minnesota Timberwolves, an NBA franchise that is expected to fetch well north of $1 billion.

As Axios' Dan Primack puts it, this is a downright bizarre time to be selling a pro sports franchise, given how revenue has been battered by the pandemic.

Possible buyers include the Wilf family (owners of the Minnesota Vikings) and real estate mogul Meyer Orbach. Former T-Wolves star Kevin Garnett also says he’s seeking to put together a bid, and several others are said to be at least kicking the tires. Taylor says he’s retained The Raine Group to manage the process.

Bottom line: Average NBA franchise value is now above $2 billion, but Forbes estimates Minnesota is near the bottom of the pack with a worth of $1.38 billion. No matter the price, Taylor would recognize a massive return on the $88 million he paid for the team in 1995.