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TIMBERWOLVES BIDDER WANTS TO TAKE THE TEAM PUBLIC
Published September 19, 1994
Glen Taylor, who is lining up the deal to purchase the Timberwolves, said that he would like to make the team a public corporation similar to ownership of the Celtics. Taylor is lining up backers for a limited partnership to put up the $45M in equity needed for the $88M deal. Taylor told MN Public Radio that one option he and his group is interested in "is taking on additional citizens." Taking the team public "is becoming a key component in Taylor's efforts to lure individual investors into the money pool he needs to purchase the team" (CHICAGO TRIBUNE, 9/18).