As if any fans didn't see this coming. I like how they tried to string everyone along though. From the STrib:
Timberwolves owner Glen Taylor said because the team has to pay millions of dollars to players whose contracts were bought out such as Troy Hudson and Juwan Howard, there won't be a lot of money available to sign big-money free agents for the 2008-09 season.
For next season, the team will have to improve by experience of the current squad and the draft.
Despite the poor attendance at Wolves games this year, Taylor said that the team will lose only $15 million this year, less than they lost when they were drawing big crowds and had some bigger payrolls.
Taylor's partners have not been asked to contribute to any of the team's losses in recent years, but he said the team owes U.S. Bank $70 million on loans that were able to pay for losses over the years.
He added that the NBA now allows each team to have a credit line of $150 million. But Taylor said the Wolves have a credit rating of $400 million, even though the league wouldn't let them use it. But Taylor said the figure is at least an indication of what the bank believes the team is worth.
Taylor paid $88.5 million for the team in March 1995.
Stop N Pop wrote a great article about the shoddy journalism involved by \"Grandpa Sid Hartmann.\" I completely agree with him: