Last week [longtime Wolves owner Glen] Taylor closed a deal to bring in Lizhang Jiang, a Shanghai-based businessman. Jiang, who founded Chinese marketing company Double-Edge Sports, previously worked with the NBA in China. Earlier this month, Jiang, 35, completed the purchase of Spanish soccer club Granada CF. Lanxiong Sports of China reported that Jiang purchased 5 percent of the Wolves and 5 percent of the Minnesota Lynx.
In addition, Taylor has sold a share of the team to Meyer Orbach, a New York-based real estate magnate. [...]
At least twice in the past five years, Taylor has put the Wolves on the market only to later back off and decide to keep the team. This minority-share investment adds stability to Taylor's position. League sources indicate the team is worth about $1 billion.