The Minnesota Timberwolves ownership saga has been absolute cinema over the last few weeks. The duo of entrepreneur Marc Lore and MLB legend Alex Rodriguez have been trying to get the ownership of the team and in the crunch moment, current team owner Glen Taylor pulled the plug on the deal. Taylor was heavily criticized for his maneuver and on the recent episode of the Run It Back show, Shams Charania detailed the future course of action for A-Rod and his partner.
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The Minnesota franchise is worth a whopping $2.5 billion ,per Forbes, and the duo wanted to acquire the Wolves and the Lynx with this deal. They have been the owners of 40% of the team’s stake for a long time and this final deal would have brought them the 80% ownership which would be majority and the remaining 20% was slated to be with Taylor.
As it turned out, Taylor decided to take the deal off the table and announced that the duo failed to provide the money in time, and he didn’t want to give them any extension for the fulfillment.
Charania said, “This has turned into a war for the Timberwolves between Glen Taylor and the potential owners in waiting, Marc Lore and Alex Rodriguez.”
He also said that Rodriguez and Lore submitted the financial documents to the NBA and Taylor a few weeks ago but they couldn’t secure the deal.
As for what’s next, Charania said that since Taylor decided that the team will not be for sale anymore, Rodriguez and Lore are prepared to take the legal route. He said, “Marc Lore told me as well, we will use every ounce of effort to enforce the contract that Glen broke.”
Alex Rodriguez and Marc Lore are determined to seal the deal
Since Taylor has taken the gloves off, A-Rod and his partner are also now willing to take the same stance with the objective of getting ownership of the team. While Taylor is backing off at the last minute, even announcing that the team is no longer for sale, Lore is committed to getting the ownership of the Wolves and the Lynx. He said that his lawyers are in communication with the NBA and that they are going to “take whatever actions are necessary to protect our childhood dream here.”
The MLB legend on the other hand is equally furious and has declared that the quest for the Minnesota ownership is now personal because Taylor is not willing to hold his end of the bargain. As both the parties are preparing for possibly a prolonged legal battle, this is casting a shadow on the Wolves and a brilliant season that they are having so far.
