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NBA, Basketball Herren, USA Playoffs-Denver Nuggets at Minnesota Timberwolves Apr 23, 2023 Minneapolis, Minnesota, USA Minnesota Timberwolves guard Anthony Edwards 1 and owner Alex Rodriguez celebrate after the win of game four of the 2023 NBA Playoffs against the Denver Nuggets at Target Center. Minneapolis Target Center Minnesota USA, EDITORIAL USE ONLY PUBLICATIONxINxGERxSUIxAUTxONLY Copyright: xMattxKrohnx 20230423_cec_hw1_372
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NBA, Basketball Herren, USA Playoffs-Denver Nuggets at Minnesota Timberwolves Apr 23, 2023 Minneapolis, Minnesota, USA Minnesota Timberwolves guard Anthony Edwards 1 and owner Alex Rodriguez celebrate after the win of game four of the 2023 NBA Playoffs against the Denver Nuggets at Target Center. Minneapolis Target Center Minnesota USA, EDITORIAL USE ONLY PUBLICATIONxINxGERxSUIxAUTxONLY Copyright: xMattxKrohnx 20230423_cec_hw1_372
The Minnesota Timberwolves’ ownership battle seems to be settled. The arbitration hearing that began in November saw Alex Rodriguez and Marc Lore have substantial grounds to prove their offer for the team still stands. The valuation set at $1.5 billion is said to go forward as things stand. However, a lifeline could be thrown towards Glen Taylor and he needs help from fellow NBA owners.
According to Brian Windhorst, even though the arbitration rules in favor of A-Rod, the MLB legend still has a voting process to go through. “It’s going to come down to a vote of the owners. Lore and Rodriguez have the money,” Windy commented. In order for the sale to go through, the duo requires three-fourths of the NBA owners to co-sign.
So far, Windy isn’t sure which way the settlement could go. Taylor agreed to the sale at a time when the NBA was just coming out of the pandemic. Since then four teams have gone up for sale. “All of them for over 3 billion. Most recently, we saw the Mavericks sell for 3.5. We saw the Hornets and the Bucks controlling shares sell for over 3 billion in value, which is at least double or more than the Timberwolves,” Windhorst noted on Hoop Collective.
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USA Today via Reuters
May 24, 2024; Minneapolis, Minnesota, USA; Minnesota Timberwolves minority owner Alex Rodriguez looks on in the first half between the Minnesota Timberwolves and the Dallas Mavericks during game two of the western conference finals for the 2024 NBA playoffs at Target Center. Mandatory Credit: Brad Rempel-USA TODAY Sports
The Timberwolves have seen a similar rise in their valuation, and credit goes to young Anthony Edwards. The electric guard has turned himself into a riveting cornerstone. The Wolves have followed suit, breaking their playoff drought since the agreement of the sale in 2021. As of November, the team is valued at $3.1 billion.
Likewise, for Taylor, although the $1.5 billion is a significant profit, he is essentially selling the team at a bargain. This is due to Edwards’ meteoric rise and also the NBA’s recent media rights deal worth $76 billion.
But there is a catch.
Adam Silver might prevent the voting process
As mentioned, currently the transfer of the Timberwolves’ ownership depends on the NBA owners. In the Hop Collective’s discussion on the matter, they feel the ruling could go either way. It depends on how the owners around the league view the situation. They feel this topic could be polarizing among the group.
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For those who don’t want to set such a precedent, they could vote against Alex Rodriguez and Lore. However, it might not get to that.
From the time of the sale in 2021, the value of every team in the NBA has grown astronomically due to several outside factors. The $1.5 billion sale value for the Wolves isn’t even 50% of its current worth. If it comes down to a voting process, Windy thinks it could be “fraught” for the league.
Hence, in order to make it fair for both Glen Taylor and the new ownership, Ada Silver could step in. The most likely way for the transfer to be uninterrupted could be through a settlement. Both parties could quote a fair asking price after which they reach an amicable value. It may not be close to the $3 billion mark. However, it will surely be more than the $1.5 billion, considering Taylor should get a better price than what was agreed on in 2021.
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Nonetheless, as of now, it hangs in the air. Even though the arbitration process is through, the final settlement amount remains undecided. What conclusion do you think will come from this? Do you think Alex Rodriguez and Lore will assume control? Let us know your views in the comments below.
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Will Alex Rodriguez's Timberwolves takeover redefine NBA ownership, or is it just another billionaire's playground?
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Will Alex Rodriguez's Timberwolves takeover redefine NBA ownership, or is it just another billionaire's playground?
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