Minnesota Timberwolves owner Glen Taylor is looking for a successor. According to a report in the Star Tribune on Friday, Taylor would like to find a minority owner who can eventually take over the team when the 71-year-old Mankato businessman decides to retire from the basketball business.
The plan would be to find someone interested in purchasing a share of team. That person would spend some time as an understudy to Taylor, with the eventual option to purchase Taylor's share of the team.
Not just anyone will do. Taylor wants to find a partner committed to keeping the team in Minnesota. In 1994, Taylor bought the franchise, saving it from relocating to New Orleans.
"I could find somebody to buy the team. That's not my problem," Taylor said at his office at Taylor Corp., a privately held printing and marketing giant. "I have to find someone that's committed to here. It's always best if it would be a Minnesotan. I'm telling you I don't know that's the way it's going to work out. I haven't had a lot of Minnesotans step up."
Before selling, Taylor wants to turn the team into a winner.