The Minnesota Timberwolves saga has finally come to an end. For months, Marc Lore and MLB legend Alex Rodriguez were in the news regarding their desire to buyout majority stake in the franchise. In the crunch moments, the deal finally fell off and Glen Taylor released an official statement to inform the public about the latest development. The sudden turn of events has left the fans scratching their heads as they try to understand what led to this situation.
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According to the official statement, Taylor said,
“I will continue to work with Marc, Alex and the rest of the ownership group to ensure our teams have the necessary resources to compete at the highest levels on and off the court. The Timberwolves and Lynx are no longer for sale.”
Adrian Wojnarowski of ESPN reported the fall out between Taylor and his successors, and how despite the option of extension to close out the deal, the duo could not secure it.
Wojnarowski posted, “The relationship between Taylor and his successors – Lore and Rodriguez – disintegrated over the past two-plus years.” He also reported that Lore and Rodriguez did raise the money for the deal, but they couldn’t do it within the contractual deadlines.
Now, understandably, the fans are frustrated because they have been waiting for the ownership change in the franchise for months.
One fan sarcastically said that all this proves is that Taylor is fake and not someone who should be believed.
Since this has been a mess over the last few months, one fan suspects that this could finally end up in court.
This whole ownership saga has been like a scripted TV show, no wonder fans are left in a confusing state. One fan stated that Taylor saw the money coming in with the recent growth of the Wolves and must’ve decided to pull the plug on this deal.
A self-proclaimed ‘biggest fan’ of Rudy Gobert also echoed the previous sentiment.
Kevin Garnett doesn’t like Taylor at all, and it is a well-known fact in the hoop community. So, when the Wolves deal turned ugly for the duo, fans pointed out that they should’ve listened to KG before going knee deep with Taylor.
Alex Rodriguez came very close to finalizing the deal
Rodriguez, in his illustrious MLB career made over $455 million, so, it was highly possible that with his influence, wealth, and partnership with entrepreneur Marc Lore, he would be able to close the deal. In addition to that, the duo already owned 40% of the franchise that they bought for $600 million.
The deal that recently fell out would have made them a majority owner with 80% stakes and the remaining 20% was supposed to remain with Taylor.
Last week, Taylor announced, “They had an equity group that was going to come in and put in $300 million, and that equity group has either withdrawn or the NBA has denied them.”
Now that things have become so messy, it would be interesting to see if the duo would retain their 40% ownership in the team and if they will again try to get the majority ownership.
