Minnesota Timberwolves owner Glen Taylor and the NBA Development League announced a letter of intent from Taylor to purchase majority ownership in the NBA D-League’s Iowa Energy.
Subject to finalization and NBA D-League approval of the transaction, Minnesota would become the 18th NBA team to own and operate an NBA D-League affiliate.
“It’s an exciting time in the NBA D-League as we welcome Glen Taylor and the Minnesota Timberwolves to our ownership ranks,” said NBA D-League President Malcolm Turner. “The Timberwolves are the latest in an ever-growing list of NBA teams that recognize the value an NBA D-League team brings to a franchise – a trend I’m confident will continue as the league grows to 30 teams.”
“We’re thrilled to bring the Iowa Energy into the Timberwolves family,” said Taylor. “It’s great knowing that we can develop our young players so close to home and enjoy all the other benefits that come with owning a D-League team. We look forward to growing our relationship with the greater Des Moines area, the state of Iowa and basketball fans across the Upper Midwest.”
The Energy’s current hybrid partnership with the Memphis Grizzlies will come to an end at the conclusion of the 2016-17 season.