NBA Rejected Glen Taylor’s Bid To Sell Wolves To Private Equity Firm Arctos

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The NBA shot down a pitch from Glen Taylor to sell the Minnesota Timberwolves to Arctos, a private equity firm formed in 2019.

Arctos was initially formed to buy small stakes in teams.

The idea was shot down because the NBA has not approved Arctos to date.

Arctos recently filed to raise money via a blank check company that will be used to buy stakes in teams that need capital to cover losses.