Timberwolves Remain With Glen Taylor as Lore & Rodriguez Fail to Close Deal

By Ysa Panganiban Last updated Mar 29, 2024 Share with new partner:

Amidst accusations of missing deadlines and commitments under contracts, Minnesota Timberwolves owner Glen Taylor declared that he would no longer be selling minority owners Marc Lore and Alex Rodriguez his controlling interest in the team.

A failing relationship between Taylor and his successors over the previous two years is said to have hampered the sale process, which started in 2021.

With a record of 50-22 and a spot just a half-game shy of first place in the fierce Western Conference, the Timberwolves are having their greatest season in years despite the turmoil off the court.

Following Taylor’s revelation, Lore and Rodriguez stated that they had paid Taylor what they owed, including a final payment that was made only last week.

Timberwolves Ownership Saga

Timberwolves-remain-with-glen-taylor-as-lore-rodriguez-fail-to-close-deal — Amidst accusations of missing deadlines and commitments under contracts, Minnesota Timberwolves owner Glen Taylor declared that he would no longer be selling minority owners Marc Lore and Alex Rodriguez his controlling interest in the team.

Lore and Rodriguez were originally scheduled to pay $1.5 billion to buy the Timberwolves and the Minnesota Lynx of the Women’s Basketball Association in 2021, with a phased handover of control over a number of years.

In their statement, Lore and Rodriguez expressed their disappointment with Glen Taylor’s public remarks made today.

We are prepared to close our purchase of the franchise as soon as the NBA has finished its clearance procedure because we have complied with our responsibilities and have all the required funds.

Glen Taylor’s Upsetting Comments Amid Timberwolves’ Success

In the midst of a historic winning season, Glen Taylor’s remarks are a regrettable example of seller’s regret that are misguided, inconsiderate, and upsetting to the team and the supporters.”

The Phoenix Suns sold for $4 billion, the Dallas Mavericks for $3.5 billion, and the Charlotte Hornets for $3 billion recently, demonstrating the lucrative nature of professional sports ownership. These sales coincide with the decision to cancel the sale.

Taylor said he will continue to collaborate with Lore, Rodriguez, and the other members of the ownership group to make sure the Timberwolves had the tools necessary to compete at the greatest levels on and off the court, even in the wake of the cancellation.