Despite $1.5 Billion Promise, Alex Rodriguez “Not Allowed” to Talk To Anthony Edwards and Timberwolves Staff

Ownership in jeopardy! A messy dispute between Glen Taylor, Alex Rodriguez, and Marc Lore has rocked the Minnesota Timberwolves organization. Back in the summer of 2021, current majority owner Glen Taylor struck a deal worth $1.5 billion with A-Rod and Lore for the sale of the Timberwolves and Lynx. The duo bought a 20% stake in 2021 with another 20% stake being purchased in March 2023. But now, the deal is off. What went so wrong?

They were supposed to complete the takeover by purchasing a final 40% stake from Taylor on 27th March. However, Glen Taylor announced that the Timberwolves and the Lynx are “no longer for sale,” as the duo’s option to acquire a controlling stake had expired. As a result, Alex Rodriguez and Marc Lore stated that Taylor was experiencing “seller’s remorse” due to the Timberwolves’ notable improvement this season.

In multiple interviews, both A-Rod and Marc Lore have labeled Taylor’s breach of contract as a “nuclear bomb.” During a conversation on the ‘Dan Moore Podcast’, the duo even stated that Taylor had restricted their access to players and certain facilities within the Target Center. Marc Lore said, “He has shut us out from conversations with any of the employees of the team, with Tim Connelly (president) and the players. We couldn’t go to the suite. We couldn’t walk at certain places within the arena. So, he’s really gone nuclear on us.” 

But why did Taylor declare the teams weren’t for sale? Well, as per him, the prospective buyers did not meet their deadline to close the deal. A press release from Taylor read, “Under terms of the purchase agreement, the closing was required to occur within 90 days following the exercise notice issued by Lore and Rodriguez. That 90-day period expired on March 27, 2024. Under certain circumstances, the buyer could have been entitled to a limited extension. However, those circumstances did not occur.”

As soon as this statement was issued, Taylor’s attorney contacted Rodriguez and Lore to inform them that they were no longer authorized to be in the back hallways of Target Center. Despite the setback, both Alex Rodriguez and Marc Lore have promised to fight for their controlling stake in the franchise.

Alex Rodriguez and Marc Lore threaten legal action against Glen Taylor

In an interview with ‘The Athletic’, A-Rod and Marc Lore expressed that they are willing to fight for their controlling stake. Rodriguez said, “It is now personal. We can be in this (fight) for five years, 10 years, whatever. We’re not going to let go.” Lore further added by saying, “We will use every ounce of effort here to enforce the contract that Glen broke. So that means time, capital, whatever means necessary.”

But Glen Taylor has stated that he views this as a simple business deal that failed to materialize. On the contrary, Lore and A-Rod feel that they have met all contractual obligations. They further stated that contract stipulations allow them a 90-day extension. With the Minnesota Timberwolves performing exceptionally well on the court, fans hope that the ownership dispute be resolved as soon as possible.

However, it is not known how long this will go on. A neutral third party might have to look into this. Till then, Rodriguez and Lore will retain their limited stake and also plan to attend games.

As of now, Taylor sees them both as standard limited partners. Hence, he expects them to comply with the appropriate parameters. Limited partners generally do not have access to the locker room or direct communication with the decision-makers. Taylor is adamant that he is abiding by the contract. “If you had asked me a year ago, I would have assumed that everything would have worked out … But they had difficulty raising the money, I guess.”

Could the team’s increased valuation be a reason for this issue? Back in 2021, Wolves and Lynx were valued at $1.5 billion. However, today it stands at $3 billion. Rodriguez and Lore have insinuated that Taylor could make additional millions by selling at the higher valuation.

However, this issue isn’t too surprising. After all, Taylor has had similar issues in the past. Remember how Kevin Garnett wanted to be a part of the decision-making for the Minnesota Timberwolves after his retirement? But when coach Saunders suddenly died, the team had new leadership. After an intense negotiation with owner Glen Taylor, Garnett left with the feeling that promises were broken.

What do you think about this issue? Let us know in the comments below.

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