NBA champion Kevin Garnett has returned to the place that drafted him but it appears KG doesn’t just have plans on playing for the Timberwolves, he is looking to own them. Now that KG is back in Minnesota, reports have surfaced that KG is forming a group that will be looking to purchase the Minnesota Timberwolves.
According to twincities.com,
The contract extension Kevin Garnett, 38, will sign with the Timberwolves this summer will be for two years. During that period, Garnett and Wolves president-coach Flip Saunders are expected to try to form a group to buy the team from Glen Taylor.
Garnett has amassed more than $325 million in salaries during 20 seasons in the NBA. Saunders, who turns 60 on Monday, has made an estimated $40 million during 17 seasons as a NBA coach.
The Wolves, for whom Taylor paid $88 million in 1994, were valued at $625 million last January by Forbes. Taylor, who turns 74 in April, is amenable to taking in more limited partners. But he’s not interested in selling his team until he finds out what the Atlanta Hawks, who are for sale and currently are taking bids, end up going for.
It’s clear, though, considering the NBA’s new $24 billion, nine-year media rights deal that begins next year, that Garnett and Saunders will need considerably more wherewithal to buy the Wolves.
Taylor doesn’t know what his team will be worth then, but it will be a lot more than it is now.
Meanwhile, word is Garnett has matured since his days in Minnesota, where he was paid nearly $200 million by Taylor and in his final days with the Wolves seemed unappreciative. If Garnett, who is being paid $12 million this season, has indeed grown up, he and Taylor could improve a relationship that once became strained. Money talks.
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