Straus Single Family Office Considers Acquisition of Minnesota Timberwolves

The single family office of Daniel E. Straus, former CEO of The Multicare Companies, considers the acquisition of the NBA franchise Minnesota Timberwolves. Current owner Glen A. Taylor hired an advisory firm to consult on a possible sale of the NBA team, which could bring up to $1.2BN. Taylor built up the Taylor Corporation – which is today a leading, multinational printing and electronics firm with more than 15,000 employees. He purchased the Timberwolves in 1994.

Straus Single Family Office as a potential buyer

According to Bloomberg, the Straus single family office is one of the possible bidders for the NBA team. Daniel E. Straus’ single family office invests in various asset classes, e.g. real estate, financial markets and hedge funds. He founded the healthcare group Multicare Companies Inc. in 1984. During his business life, he launched several additional companies like CareOne or InnovaCare.

Source: Bloomberg, 28.07.2020
Picture source: Edgar Chaparro