Illustration: Aïda Amer/Axios

Minnesota Timberwolves owner Glen Taylor is exploring a potential sale of the NBA team.

The backdrop: This is a bizarre time to be selling a pro sports franchise, given how revenue has been battered by the pandemic and the uncertainty moving forward.

  • What he's saying: Taylor, 79, who saved the Timberwolves from a potential move to New Orleans when he bought the team in 1995, told The Athletic that he will not sell to a group that wants to move out of Minneapolis.

Potential buyers: Suitors include the Wilf family (owners of the Vikings) and real estate mogul Meyer Orbach. Franchise legend Kevin Garnett also said he's forming a group to try to buy the team.

Reproduced from Forbes; Chart: Axios Visuals

The bottom line: Recent sales of big market teams like the Nets (purchased for $2.35 billion), Rockets ($2.2 billion) and Clippers ($2 billion) have pushed the average NBA franchise value to more than $2 billion, up 476% since 2010.

  • Minnesota is near the bottom of the pack with a value of $1.38 billion, per Forbes (third-lowest). Even so, Taylor is set to recognize a massive return, given that he paid just $88 million for the team in 1995.

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Details: Angering protesters, the grand jury did not indict any of the three officers involved in the botched drug raid on homicide or manslaughter charges related to the death of Taylor.

Gulf Coast braces for Zeta after storm strengthens into hurricane

Hurricane Zeta's forecast path. Photo: National Hurricane Center

Louisiana Gov. Gov. John Bel Edwards (D) declared a state of emergency Monday as Zeta strengthened into a hurricane and threatened Mexico's Yucatan Peninsula as it moved towards the U.S. Gulf Coast.

The state of play: Zeta was expected to make landfall on the northern part of the Yucatan Peninsula Monday night, bringing with it a "dangerous storm surge" and "heavy rainfall" as it moved into the Gulf of Mexico, the National Hurricane Service said.

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