Glen Taylor saved the Minnesota Timberwolves from moving to New Orleans after buying the team for $94 million in 1994. But during his 31 years as the team’s controlling owner, there were plenty of mistakes, including his agreement to sell the team for $1.5 billion in 2021.
Since then, the value of NBA teams has skyrocketed, and Taylor’s undervaluation of the Timberwolves got worse on Friday morning when Marc Lore agreed to sell his majority stake in the team to businessman Marc Stad for $4.5 billion.
With Lore successfully flipping his share for more than twice what Taylor got a few years ago, it’s a fitting final chapter to Taylor’s dysfunctional reign in Minnesota.
Glen Taylor’s final Timberwolves mistake cost him billions
Taylor’s history with the Wolves can be summed up as a total cringefest. An under-the-table agreement with Joe Smith was the first mistake that Taylor made, attempting to issue a series of one-year deals before giving Smith a massive payday once Minnesota acquired his Bird Rights.
The NBA found out about the agreement and fined the Timberwolves $3.5 million, suspended Taylor for a year, and stripped Minnesota of five first-round draft picks (one of which was later returned), dooming their ability to build around Kevin Garnett.
Hiring David Kahn as president of basketball operations in 2009 was another disaster as he passed on Stephen Curry twice in the 2009 draft and then alienated Kevin Love when he sought a max contract in 2012.
Taylor also played a role in this with comments questioning if Love was a true superstar when he was traded to the Cleveland Cavaliers in 2014.
While the Wolves acquired Andrew Wiggins in that trade, it led to another mistake where Taylor handed Wiggins a five-year, $148 million maximum contract extension because he promised to work hard and improve his game after he “looked him in the eyes.” (Wiggins never followed through, ultimately being traded and becoming an All-Star with the Golden State Warriors.)
Last but not least, Taylor lit his relationship with Garnett on fire after backing out on a handshake agreement. After suggesting Garnett “tanked” before he was traded to the Boston Celtics in the summer of 2007, he brought Garnett back with a handshake agreement that he would transition into a minority owner or front-office executive when he retired.
Taylor backed out, leaving Garnett to call him “a snake” and keep the franchise from retiring his No. 21 jersey – something that will happen next season under the new ownership.
All of these things have given Taylor a poor reputation among Timberwolves fans. But they may find some schadenfreude over the way he fumbled the sale of the team.
Timberwolves fans (and Marc Lore) got one last laugh at Glen Taylor’s expense
Taylor put the Wolves up for sale in July 2020 and agreed to sell the team to Lore and Rodriguez in April 2021. But that agreement also included a multi-year installment process and a three-year transition period. During that time, the value of NBA franchises exploded, most notably with the Phoenix Suns and the WNBA’s Phoenix Mercury sold to Mat Ishbia for $4 billion in 2022.
Team | Date | Valuation |
|---|---|---|
Minnesota Timberwolves/Lynx | April 2021 | $1.5 billion |
Phoenix Suns/Mercury | December 2022 | $4 billion |
Milwaukee Bucks | February 2023 | $3.5 billion |
Charlotte Hornets | June 2023 | $3 billion |
Dallas Mavericks | November 2023 | $3.5 billion |
Realizing he made a mistake, Taylor announced the team was no longer up for sale and even suggested that Rodriguez and Lore would make massive payroll cuts while keeping a “Burn Book” in an attempt to win the case. But after three decades of losing and being an NBA bottom-feeder, fans remained aligned with their new owners, who eventually won their arbitration case and gained approval from the NBA Board of Governors in June 2025.
Since then, the hits have kept coming. The Boston Celtics were sold to billionaire Bill Chisholm for $6.1 billion last year. That number was doubled earlier this month when Mark Walter reached an agreement to sell the Los Angeles Lakers to venture capitalist Josh Kushner and Disney CEO Bob Iger for $12.5 billion.
Even the Portland Trail Blazers were sold to businessman Tom Dundon, who also owns the NHL’s Carolina Hurricanes, for $4.25 billion, providing further evidence that Taylor woefully underestimated the value of his team.
In the end, Lore took his share and nearly doubled his money by selling it to Stad and likely leaving Taylor with even more buyer’s remorse. Based on his tenure, no Wolves fans will feel sorry for this development. But it’s a fitting final chapter for Taylor as Minnesota welcomes a new majority owner to the fold.
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