The Timberwolves announced that the team is being sold to businessman Glen Taylor, a former Minnesota state senator. The reported $88 million sale was made pending NBA approval.
The sale came four days after a group headed by retired insurance executive Bill Sexton dropped its bid for the team. Sexton's final offer of $143.2 million was acceptable to the team's owners, but talks broke down when the issue of indemnification against a possible lawsuit by Louisiana interests could not be resolved.
The team had been sold to Top Rank of Louisiana, which planned to move it to New Orleans, but the NBA did not approve the sale. Top Rank has sued the NBA and the previous owners.
* KUKOC GETS $26 MILLION: G-F Toni Kukoc confirmed that he has agreed to a six-year deal with the Bulls that will pay him $26 million and make him the highest-paid player in the club's history -- topping even Michael Jordan, who earned $3.9 million in 1992-93.
* HOME IN THE DOME: The city of Tacoma and the SuperSonics agreed on a contract for the team to play its 1994-95 gams in the Tacoma Dome while the Seattle Coliseum is being rebuilt, Tacoma city officials said.
* MUSTAF BUYOUT NEAR: Suns President Jerry Colangelo said the team would like to buy out the remaining two years of F Jerrod Mustaf's contract, reportedly worth nearly $4 million. Mustaf has been linked to the July 1993 slaying of Althea Hayes who was pregnant at the time. Tests indicated Mustaf was the father of the unborn child.
Mustaf's cousin, LaVonnie Wooten, has been charged with the slaying and is awaiting trial. Mustaf has denied involvement.
* SUNS, GREEN SUE: The Suns and A.C. Green sued the NBA over the league's invalidation of the contract between the Suns and the veteran forward. The league rejected the contracts of Green and Bulls F Horace Grant, who had signed with the Magic, saying the deals were designed to circumvent the salary cap.
* CARLISLE MOVES: Rick Carlisle, an assistant coach with the Nets since 1989, was hired as an assistant by the Trail Blazers.