Kevin Garnett & Investors Interested in Buying Timberwolves Franchise
Hall of Famer Kevin Garnett and a group of investors are interested in purchasing the Minnesota Timberwolves, as reported by NBA Reporter Shams Charania.
This would make Kevin Garnett the 3rd player (Michael Jordan – Bobcats, Magic Johnson – Lakers at one point) in NBA history to own a percentage of an NBA franchise, but the first NBA player ever to own a team he used to play for.
Kevin Garnett was drafted by the Timberwolves as an 18-year-old right out of high school. He played 14 incredible seasons with the Timberwolves, and was averaging 20ppg and 10rpg for 9 consecutive seasons. He was traded to the Boston Celtics in 2007, where he secured his first and only championship in 2008. However, his love for the team that drafted him didn’t go away because he resigned with the T-Wolves in 2015 to finish out his 21-year career.
Timberwolves owner, Glen Taylor purchased the franchise in 1994 for $88 million. Currently, Forbes estimates the franchise to be valued at around $1.375 billion. That is about a 1463% increase in his investment! We can assume that as the NBA continues to grow around the world, the value of all the franchises will continue to grow, making it a good investment in the long-run.
Ironically, Glen Taylor and Kevin Garnett did not get along too well while he was in Minnesota. They never saw each other eye to eye when it came to the future of the franchise; however, this deal could potentially lead to better days between them.
There are no reports to how much Kevin Garnett and his investors offered for the franchise, but an opportunity for the 18-year-old kid out of high school to own the team that drafted him sounds like a dream come true for KG.
