Glen Taylor has retained The Raine Group to sell the Minnesota Timberwolves.
Taylor bought the team for approximately $88 million in 1995.
Taylor is seeking at least $1.2 billion for the franchise that Forbes says is worth $1.38 billion. There are several parties who have already bid on the franchise and a deal could be reached within one month.
The sale isn't related to financial hardship created by the COVID-19 pandemic, according to a source.