Garnett-led group preparing bid to purchase Timberwolves

Kevin Garnett is leading a group of investors who are preparing to make a bid to purchase the Minnesota Timberwolves from owner Glen Taylor, the former franchise star confirmed on his Instagram.

"My passion for the Minnesota Timberwolves to be a championship team is well known but I have a deeper affection for the city of Minneapolis. I once again want to see Minneapolis as the diverse and loving community that I know it is," Garnett wrote on Twitter. "No two people love the city more than myself and Glen Taylor and I look forward to trying to work with him to achieve my dream."

Taylor acknowledged Tuesday that The Raine Group - the firm that assisted Steve Ballmer in purchasing the Los Angeles Clippers - recently approached him to discuss the future of the franchise.

Garnett and Taylor haven't seen eye to eye dating back to a 2016 dispute regarding the future ownership structure of the Timberwolves. The T-Wolves legend hasn't been interested in the organization retiring his jersey as a result.

Taylor originally purchased the franchise in 1994. The 79-year-old is reportedly seeking at least $1.2 billion for the team, but he needs an assurance the club won't be moved if sold.

"People have inquired who are interested but they want to move the team. They are not a candidate. We've made that very clear," Taylor told The Athletic's Jon Krawczynski when asked about his team being on the market.

"Everybody's been told it (the team) has to stay in Minnesota," Taylor continued.

Taylor added that the WNBA's Minnesota Lynx would likely remain under the NBA team's corporate umbrella in the event of a sale, according to Krawczynski.

After Minnesota drafted him fifth overall in 1995, Garnett was named MVP in 2004, earned eight All-NBA team selections, and made 10 All-Star appearances during his 14-season run with the club.