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
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