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Timberwolves owner Glen Taylor takes team off market

NBA Commissioner David Stern Announces Retirement

NEW YORK, NY - OCTOBER 25: Glen Taylor, owner of the Minnesota Timberwolves, speaks to the media following the NBA Board of Governors Meeting, during which Commissioner David Stern outlined his plans to step down in February 2014 at the St. Regis hotel on October 25, 2012 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Alex Trautwig/Getty Images)

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For a while now, Timberwolves owner Glen Taylor has had the team on the market, but a sale would only happen under a specific set of circumstances. Taylor wanted the new group to take a minority interest at first and work under him. And they had to promise not to move the team out of Minnesota.

After trying that for a while, Taylor has decided to not sell the team right now, according to the Associated Press.

Taylor said Friday that he has stopped looking for a buyer for the team and will instead offer to buy out any limited partners who are looking to sell. Taylor put the team on the market last summer in hopes of finding a person or a group that would be willing to buy a minority stake to start with and then take control a few seasons down the road.

But Taylor says he couldn’t find a buyer who would guarantee the team will remain in Minnesota, and also says he felt some seller’s remorse when negotiating with several interested parties.

Taylor isn’t young, but a guy who was a state senator isn’t the kind of guy to screw over a state and sell the team to the Seattle group (for example).

Taylor is clearly thinking about the long term of the franchise with the move to replace GM David Kahn with Flip Saunders. Not that Kahn hadn’t earned this a few times over, but this is really about the relationship with Kevin Love and keeping him with the Timberwolves long term.

Taylor is also focused on keeping the Timberwolves the Timberwolves long term, apparently.