Timberwolves owner Glen Taylor said the process to sell 30 percent of the team to Los Angeles private equity investor Steve Kaplan's group is at a "standstill" while Kaplan pursues selling his minority portion of the Memphis Grizzlies. NBA rules prohibit a person from owning parts of two teams.
"We can't do anything until he works a deal in Memphis," Taylor said.
Taylor said he has no set no deadline to complete the sale and said the process likely will take months and "not weeks."
Taylor said he believes the transaction still will be completed.
When asked if there could be complications with Kaplan selling his portion of the Grizzlies, Taylor said, "He hasn't told me that."
From earlier:
Taylor said his team isn't seeking a contract buyout with Kevin Martin by next Tuesday's 11 p.m. deadline (Central time) for players to be waived so they can be eligible for the playoffs with another team.
That doesn't mean it won't happen, though.