Timberwolves Legal Battle: Alex Rodriguez & Marc Lore’s New Proposal Forces Added Financial Burden As Per Sources

Baseball legend Alex Rodriguez became a part of the NBA world in 2021 after acquiring a minority stake in the Minnesota Timberwolves. Along with entrepreneur Marc Lore, the former athlete had been on a three-year attempt. This is to become the primary owners by taking a majority stake in their name. While progress seemed to be at the forefront, their effort reached a dead end after current owner Glen Taylor made it clear that the franchise is no longer on sale for them. Despite this, the duo of Rodriguez and Lore do not choose to back down. Almost two months after the initial setback, they have proposed adding a new twist to this already intriguing story.

According to sources, Alex Rodriguez and Marc Lore recently provided Glen Taylor with a new proposal. It stipulates that whoever loses this acquisition battle will pick up the bill for all the lawyers and legal help that have been used since the beginning. The duo’s legal help reportedly suggested this proposal. This viewpoint was in complete contrast to the one held by the lawyers working under the Timberwolves majority owner, who reportedly want to continue with the original structure that has been laid out in the purchase agreement. Glen Taylor has allegedly rejected this proposal after heeding the advice of his legal help.

Alex Rodriguez and Glen Taylor have chosen not to take their legal battle to the courtroom and instead settle it through arbitration. This decision was made after a round of mediation conducted at the beginning of May failed to yield any desired results. According to Forbes and ESPN reporter Pablo Torre, to complete the $1.5 billion sale, Rodriguez and Lore had already made the final $600 million payment before the deal’s dissolution. Furthermore, they had also reportedly asked for a 90-day extension that would give the league more time to agree to the agreement. Despite all of this, Glen Taylor decided to no longer engage in business with the duo.

This battle for control of the Timberwolves is currently going on as the franchise has been having one of its best seasons in the last few decades. It was barely a few hours ago when Anthony Edwards and Co. registered their fourth semifinal win against the defending champions, Denver Nuggets. With this, they have entered the Western Conference Finals for the first time since the 2003-2004 season. Furthermore, the franchise’s value drastically increased recently, going from $1.7 billion (2022) to $2.5 billion (October 2023). All of this has only made being the majority owner of the Timberwolves more intriguing.

Alex Rodriguez and Marc Lore are confident that they are going to be the owner of the Minnesota Timberwolves

It didn’t take long for shots to be fired after the deal between Alex Rodriguez-Marc Lore and Glen Taylor reached an abrupt end. Barely 24 hours after the majority owner put out a statement highlighting the dissolution of the sale, the entrepreneurial duo gave out an interview to Sportico. According to Rodriguez, he breached no stipulated agreements and that Glen Taylor was trying to get out of a deal that is no longer “financially advantageous”. At the same time, they made it known to people around the world that this fight is far from over.

“We’re going to be the owners of the Minnesota Timberwolves,” said Marc Lore during the Sportico interview. “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.” In the aftermath of the fallout, reports started to come out that Glen Taylor had “barred” Rodriguez and Lore from entering the “back hallways of arena” and caused difficulties in their “communication with team execs”.

“We can be in this (fight) for five years, 10 years, whatever” said the former New York Yankees player. “We’re not going to let go.”

Apr 12, 2022; Minneapolis, Minnesota, USA; Minnesota Timberwolves co-minority owners Alex Rodriguez and Marc Lore celebrate a victory over the Los Angeles Clippers after a play-in game at Target Center. Mandatory Credit: Nick Wosika-USA TODAY Sports

With arbitration set to commence within the foreseeable future, it remains to be seen who will reign supreme in the end.