Symbolically, it hands Towns the keys to the franchise as the Timberwolves prepare to deal Butler.
Minnesota's first practice of training camp comes Tuesday, and Taylor reportedly wants a deal done by then.
Butler, a four-time All-Star, was given the OK by the team not to participate in media day.
While the National Basketball Association offseason has been rather quiet lately, the rift between Jimmy Butler and the Minnesota Timberwolves could result in a blockbuster trade before the season begins.
Minnesota Timberwolves president/head coach Tom Thibodeau has been resistant to the idea of trading Butler, but now that he must, it's very likely he will be very selective with incoming offers.
Currently, Butler is under contract for the next two years, where he is due to make $20.44 million in 2018-2019 and $19.84 million in 2019-2020.
But ESPN's Adrian Wojanowski has now added another team to the list of suitors for Butler.
With the T-Wolves trying to move Butler early this week, stay tuned for more updates on the superstar swingman.
Butler will be a free agent after this season and has told Thibodeau that, if kept, he will not be re-signing with a team that features young stars Karl-Anthony Towns and Andrew Wiggins, with whom he has clashed. As for the Timberwolves, it's clear that Butler's time with the team is coming to an end.
Thibodeau and general manager Scott Layden - who brought his cellphone to the podium just in case he received any important calls or texts involving Butler - distanced themselves from reports that they aren't on the same page with Taylor concerning Butler.
"If it's a good deal, we're interested".
Butler, 29, is playing on the previous year of a contract that will pay him almost $20 million next season and has made it clear he does not intend to re-sign with Minnesota.