Glen Taylor stops plan to sell Minnesota Timberwolves, according to report

Greg Smith-USA TODAY Sports

Glen Taylor will remain the owner of the Minnesota Timberwolves, as he has been for nearly 20 years. Flip Saunders will be taking an ownership stake as part of his new role as team president.

Glen Taylor will not move forward with his prior plans to sell the Minnesota Timberwolves, as the 71-year-old billionaire reportedly pullling the team off the sales block:

Taylor, who has owned the team since 1994, has been looking for over a year to find his successor. But he has gone on record saying he didn't need to get rid of the team; he was just looking for someone to take over a franchise he clearly cares about a lot. But Taylor, who also serves as president of the NBA's Board of Governors, told a local ESPN affiliate Tuesday evening that he had found a potential owner for the team, and that nobody would be able to guess who it was.

Apparently, that plan has fallen through. The former Minnesota State Senator and CEO of printing and electronics company Taylor Corporation will remain in charge.

The news came on the same day David Kahn was removed as team president. As expected, he brought in a coach with whom he had a strong relationship and who will apparently take over part of the ownership of the team:

Saunders' new stake of the team probably had a role in convincing Taylor he didn't need to follow through with the sale.

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