Former baseball star Alex Rodriguez and entrepreneur Marc Lore are standing firm in their assertion that they will become the next owners of the Minnesota Timberwolves, despite recent statements from current owner Glen Taylor indicating otherwise.
In an interview with Sportico, Rodriguez and Lore pushed back against Taylor’s declaration that their purchase agreement had fallen through, accusing Taylor of breaching the contract and fabricating reasons to back out of the deal.
“We’re going to be the owners of the Minnesota Timberwolves,” Lore stated defiantly. “It’s just a matter of time, and how much pain Glen wants to put the fans, the players, the town, and community through. It’s his choice. It didn’t have to be this way.”
Whoa: Alex Rodriguez and Marc Lore are confident they will be the next owners of the Timberwolves, per @Sportico
“We’re going to be the owners of the Timberwolves. It’s just a matter of time and how much pain Glen Taylor wants to put the fans, players, town, and the community… pic.twitter.com/FvYMRIJmyY
— Legion Hoops (@LegionHoops) March 29, 2024
The dispute stems from a four-part deal agreed upon in 2021, where Lore and Rodriguez would gradually acquire ownership of the Timberwolves.
Despite meeting the financial requirements laid out in the agreement, Taylor announced that the deal was off, claiming Lore and Rodriguez had missed a deadline to close the deal.
However, Lore and Rodriguez pointed to a clause in their purchase agreement that grants them a 90-day extension if awaiting NBA approvals after submitting financial subscriptions.
They assert that they submitted the required documents six days before the deadline and are currently awaiting NBA approval.
While the Timberwolves declined to comment and the NBA did not respond to requests for comment, Lore and Rodriguez revealed that their lawyers are in discussions with NBA representatives.
Although they did not confirm plans for legal action, they emphasized their willingness to defend their interpretation of the contract.
The duo also addressed questions regarding the financing of their ownership stake and the unorthodox structure of the deal, which involves staggered payments over several years.
Despite concerns raised within the sports deal-making community, Lore and Rodriguez remain confident in their ability to assume control of the franchise.
They also highlighted the Timberwolves’ on-court success and improved franchise valuation under their stewardship, suggesting that Taylor’s reluctance to complete the deal stems from seller’s remorse.
