Majority Ownership Dispute: Legal Battle Between Marc Lore and Alex Rodriguez, Glen Taylor, and NBA Over Timberwolves Franchise

On Thursday, Glen Taylor announced that the sale of the Timberwolves and Lynx franchises to a group led by Marc Lore and Alex Rodriguez had fallen through. In an interview with KSTP Sports, Taylor stated that the deadline for Lore and Rodriguez to finalize the purchase had expired, resulting in the deal being no longer viable. 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 KSTP Sports’ Darren Wolfson about their perspective 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 claimed that they had been denied access to the Target Center owner’s suite and were prohibited from interacting with key personnel such as president of basketball operations Tim Connelly and the Timberwolves coaching staff.

Lore and Rodriguez strongly believe that their original contract with Taylor will be upheld in court, ultimately leading to them obtaining majority ownership of the franchise. Rodriguez emphasized their commitment to honoring the deal and expected Taylor to do the same. The situation appears headed towards a legal resolution as all parties hold their ground on their respective positions.