Glen Taylor is in serious talks to sell an approximate 20 percent stake in the Minnesota Timberwolves to a group led by Steve Kaplan.

Kaplan's group hopes purchasing a minority share will help position themselves to purchase the majority stake in the Wolves once Taylor decides to sell.

Kaplan is partnering with ex-Memphis Grizzlies CEO Jason Levien and Indonesian billionaires Handy Soetedjo and Erick Thohir.

Kaplan has an ownership stake in the Grizzlies and tried to purchase the Atlanta Hawks.