January 26, 2015 2:37 PM ET

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Company Overview of Minnesota Timberwolves Basketball Limited Partnership

Company Overview

Minnesota Timberwolves Basketball Limited Partnership (MTBLP) offers sports and entertainment services. The company owns and manages the Minnesota Timberwolves professional basketball team that plays in the National Basketball Association. Additionally, it offers sport merchandise retailing and marketing services. Minnesota Timberwolves Basketball Limited Partnership was founded in 1989 and is headquartered in Minneapolis, Minnesota.

600 First Avenue North

Minneapolis, MN 55403

United States

Founded in 1989

Phone:

612-673-1600

Fax:

612-673-1699

Key Executives for Minnesota Timberwolves Basketball Limited Partnership

Chief Executive Officer
President
Owner
Age: 72
President of Basketball Operations
Age: 59
Senior Vice President of Marketing and Communications and Chief Marketing Officer
Compensation as of Fiscal Year 2014.

Minnesota Timberwolves Basketball Limited Partnership Key Developments

Minnesota Timberwolves Interested In Prospective Buyers

Minnesota Timberwolves Basketball Limited Partnership will consider sale. Ted Johnson, Chief Marketing Officer of Minnesota Timberwolves Basketball said that the team is "fielding requests and entertaining requests" but that no sale process is currently taking place. Glen Taylor would consider offers from potential minority investors. The team has not hired an investment bank and no sale process is currently taking place.

Minnesota Timberwolves and Minnesota Lynx to Open New Practice Facility

The Minnesota Timberwolves have finalized a plan to build a practice facility across the street from their arena in a vacant former movie theater. The Timberwolves and their sister WNBA franchise the Minnesota Lynx announced a partnership with the Mayo Clinic, which will also open a sports medicine clinic adjacent to the basketball areas. It's part of an extensive $50 million redevelopment of Block E, a failed retail and entertainment complex that opened in 2001 but has been largely empty for years. It will be renamed Mayo Clinic Square. The Timberwolves and Lynx have used a cramped space in the basement of Target Center, where a fitness club is also located, for their practice court and strength and conditioning work. The new privately financed $20 million facility will open prior to the 2014-15 NBA season. he new space will be on the third level of the building. It will have two basketball courts, with the Timberwolves and Lynx each having a primary court, and include additional offices for coaches, scouts and staff, as well as expanded workout areas.

T-Wolves Announces Executive Changes

David Kahn is out as Minnesota Timberwolves' president of basketball operations and Flip Saunders is in. The Timberwolves decided not to pick up Kahn's contract option for the 2013-14 season, thus ending an unsuccessful run in which the club went 89-223 and failed to make the playoffs in his four-year tenure as executive decision-maker. Though the Timberwolves have yet to officially announce the hiring of Saunders, the 58-year-old confirmed on ESPN that he has signed a long-term deal to replace Kahn and will hold a minority ownership stake in the team, as well.

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