Report: Browns owner Haslam exploring purchase of Timberwolves

Cleveland Browns owner Jimmy Haslam is looking into a bid to buy the Minnesota Timberwolves, Sportico reported Thursday. An investment group led by Daniel Straus, a former minority owner of the Memphis Grizzlies, reportedly emerged as the frontrunner to buy the Timberwolves and the Lynx of the WNBA from current owner Glen Taylor. Taylor, 79, who retained the…

Cleveland Browns owner Jimmy Haslam is looking into a bid to buy the Minnesota

Timberwolves, Sportico reported Thursday.

An investment group led by Daniel Straus, a former minority owner of theMemphis Grizzlies, reportedly emerged as the frontrunner to buy theTimberwolves and the Lynx of the WNBA from current owner Glen Taylor.

However, Sportico reported that no agreement was reached between Taylor andthe Straus Group by the expiration date, although Straus is still in talks tobuy the team. Straus’ tenure as minority owner of the Grizzlies ended in 2018.

Taylor, 79, who retained the Raine Group to sell the franchise, bought theTimberwolves in 1994 for just under $90 million and has sold off a fewminority stakes in recent years. Sportico reported he is seeking at least $1.2billion to sell the team. In February, Forbes pegged the franchise’s value at$1.38 billion.

Taylor has a net worth of $2.5 billion, while Haslam’s net worth is $2.9billion, according to Forbes.

Haslam and his wife, Dee, bought the Browns in 2012 for $1.05 billion. Haslamis the CEO of Pilot Flying J, a truck stop company founded by his father.

–Field Level Media

ANA NEWS WIRE Disclaimer:
The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality.
ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video. Where errors do appear, ANA will seek to correct these timeously and transparently.
The ANA platform also contains news and information from third party sources. ANA has sought to procure reliable content from trusted news sources but cannot be held responsible for the accuracy and opinions provided by such sources on the ANA platform or linked sites.
The content provided for on the ANA News Wire platform, both through the ANA news operation and via its third party sources, are for the sole use of authorised subscribers and partners. Unauthorised access to and usage of ANA content will be subject to legal steps. ANA reserves its rights in this regard.
ANA makes every effort to ensure that the website is up and running smoothly at all times, however ANA does not take responsibility for, and will not be held liable for times when the website is temporarily unavailable due to technical issues that are beyond our control.