Iowa Energy Basketball Team to be Purchased by Minnesota Timberwolves
DES MOINES, Iowa — The NBA D-League’s Iowa Energy basketball team is set to be purchased by the Minnesota Timberwolves.
According to a press release from the NBA Development League, Timberwolves owner Glen Taylor and the League announced Taylor’s intent to purchase majority ownership in the Iowa team. The transaction is still subject to finalization, and would make Minnesota the 18th NBA team to own and operate an NBA D-League affiliate.
“It’s an exciting time in the NBA D-League as we welcome Glen Taylor and the Minnesota Timberwolves to our ownership ranks,” said NBA D-League President Malcolm Turner. “The Timberwolves are the latest in an ever-growing list of NBA teams that recognize the value an NBA D-League team brings to a franchise – a trend I’m confident will continue as the league grows to 30 teams.”
Taylor said he is “thrilled to bring the Iowa Energy into the Timberwolves family.” He continued, “It’s great knowing that we can develop our young players so close to home and enjoy all the other benefits that come with owning a D-League team. We look forward to growing our relationship with the greater Des Moines area, the state of Iowa and basketball fans across the Upper Midwest.”
The Energy currently has a hybrid partnership with the Memphis Grizzlies, which will end at the conclusion of the 2016-17 season.
Jed Kaplan will continue as a partner and will continue to be an active part of the team’s management. Kaplan led the acquisition of the Iowa Energy in 2014.
“Today is a great day for Iowa basketball,” he said.