MINNEAPOLIS (AP) — Glen Taylor has pulled the Minnesota Timberwolves off the market.
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 estimates he may buy out about half of his 12 limited partners.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)