Alex Rodriguez Struck By Glen Taylor’s $4.4 Million Move To Remain Majority Owner Of Minnesota Timberwolves Franchise

When Alex Rodriguez’s dream of owning the Minnesota Timberwolves ended prematurely, it was expected that the fight would go on for a long time. However, the real juice of the story lay in the events that preceded the deal’s doom. It wasn’t ever a simple story with a straightforward plot; the relationship between A-Rod and Glen Taylor had soured due to many events. But the latest information about his silent deal has raised even more questions about whether Taylor even intended to sell the team.

The deal had always been in the news due to its unique structure. Instead of Alex Rodriguez and Marc Lore outright buying the Timberwolves, they had to do so in installments. The two had paid for 40% of the ownership but things derailed for the next 40%. However, while that was all Taylor needed to cancel the sale, there was a time when he actually owned less than Rodriguez and Lore. And that is what has turned this story into a great dramatic story. 

Glen Taylor’s silent deal that pulled the rug under Alex Rodriguez 

Big-time investor and Insider Joe Pompliano recently dropped a bombshell, giving this story a whole new color. In his article, Pompliano explained the timeline of events that led to the eventual breakup. He revealed that after the second round of fundraising, Rodriguez and Lore owned 36% of the team and Taylor owned just 34%. The owner had become a minority shareholder but instead of accepting it, Taylor quietly bought 2.96% of equity to increase his share in the Timberwolves. That’s a surprising development.

Bill Sexton was the one who sold his 2.96% to Taylor for around $4.4 million (based on franchise value). Suddenly, Taylor had almost 37% of ownership over Rodriguez and Lore’s 36%. According to Pompliano’s sources, this isn’t actually a surprising act by Taylor; they had expected it. Part of the reason for this was that the owner had sold only his private equity during the entire sale.

This means that Rodriguez’s 36% came exclusively from the existing 70% of Taylor. As a result, he may have given himself space to impose his will if things go south. And things did go south during the past 3 years. Rodriguez and Lore hiring Tim Connelly as the president of basketball operations for 5 years at $8 million annually wasn’t met with enthusiasm by Taylor. That was the beginning of this souring relationship. However, the question now is: What’s the endgame here?

Are the Timberwolves set to win or lose after this battle?

Amidst the ownership drama, one forgets that the Minnesota Timberwolves’ future is at stake here. The team has gotten a rebirth after decades of meandering. However, it seems this drama could potentially prove to be a huge setback for the franchise. While Alex Rodriguez and Glen Taylor are set to go through mediation and arbitration soon, there’s no estimate as to how long that process could last.

Tim Connelly’s contract has an opt-out after this season. Now that it’s obvious that Taylor never wanted him, could there be a chance of Connely exercising that option? That would certainly be a major blow for the T-Wolves. Add to this the fact that other limited partners, too, could be looking at a loss of income. As a result, this has become quite a big fight, not just for Rodriguez and Taylor but for the Minnesota Timberwolves as a whole.