If you have about $1.2 billion lying around, you could be in the running to purchase the Minnesota Timberwolves from Glen Taylor.

Scott Soshnick of Sportico is reporting that Taylor has retained The Raine Group in hopes of selling the franchise. Soshnick says that Taylor has been looking around for a buyer for a while, but bids have actually been placed and there is a chance of a sale within the near future.

One source told Sosnick that Taylor is seeking a minimum of $1.2 billion for the franchise. He bought the team in 1995 for $88 million. During his tenure owning the team, the Timberwolves have made the playoffs nine times, however, the team has only made the postseason once in the last 15 seasons. Minnesota also ranks last in average attendance in the NBA according to Sosnick.

98.1 Minnesota's New Country logo
Enter your number to get our free mobile app

Taylor is also known for his errant relationship with former Timberwolves superstar 2020 Basketball Hall of Fame inductee Kevin Garnett. The two no longer talk and Garnett refuses to have his jersey retired by the team as long as Taylor is the owner.

According to Soshnick, several bids have been placed. The Athletic's Shams Charania and Jon Krawczynski says that one of the interested parties appears to be a group of investors that includes Garnett.

Remember The Twins Free Agent Signees?

More From 98.1 Minnesota's New Country