On Thursday, Glen Taylor, owner of the Timberwolves and Lynx, announced that the deal to transfer ownership of the franchises to a group led by Marc Lore and Alex Rodriguez was off. In an interview with KSTP Sports, Taylor stated that the deadline for Lore and Rodriguez to finalize the purchase had lapsed, resulting in the team no longer being up for sale. However, Lore and Rodriguez refuted Taylor’s claim, accusing him of experiencing “seller’s remorse” due to the increased valuation of the team during the sale process.
On Friday, Lore and Rodriguez spoke with Darren Wolfson of KSTP Sports about their position on the situation. They revealed that while a portion of the ownership transfer agreement had been completed, they still held a minority ownership stake with 36% control over the teams. Despite this, they expressed frustration at being denied access to the Target Center owner’s suite and being prohibited from interacting with key personnel such as president of basketball operations Tim Connelly and the Timberwolves coaching staff.
Lore and Rodriguez are determined to hold up their end of their original contract with Taylor in court, ultimately leading to them obtaining majority ownership of the franchise. Rodriguez emphasized their commitment to honoring their agreement with Taylor and expected him to do likewise. As both parties hold strong positions on their respective sides, it seems that legal action is imminent in this case involving a disputed ownership transfer for two NBA franchises.
