Results for: Ownership Dispute

Ownership of the Minnesota Timberwolves is up for grabs as former owner Glen Taylor and prospective buyers Marc Lore and Alex Rodriguez enter mediation to determine the future of the franchise. Mediation, scheduled for May 1, will explore the conflicting claims between the parties. Taylor had previously exercised his right to withdraw from the sale, but Lore and Rodriguez remain steadfast in their desire to acquire the club. The dispute has raised questions, prompting the NBA to consider revising its rules for future transactions.

The Minnesota Timberwolves ownership dispute is moving into mediation. The first session to determine whether Glen Taylor remains controlling owner or cedes to Marc Lore and Alex Rodriguez is scheduled for May 1. Lore and Rodriguez disagree, claiming they met the deadline and believe Taylor has seller’s remorse. Commissioner Adam Silver has indicated the league will likely not intervene. The dispute may prompt the NBA to change rules around such transactions to avoid future conflicts.

The Minnesota Timberwolves’ ownership dispute will be the subject of a mediation session scheduled for May 1 in Minneapolis, according to a report by ESPN. The conflict arose when longtime majority owner Glen Taylor terminated a three-year ownership succession plan with the group led by Marc Lore and Alex Rodriguez on March 28. Taylor alleged that the former Walmart eCommerce CEO and retired baseball star failed to fulfill contractual obligations outlined in their purchase agreement. In response, Lore and Rodriguez asserted that they met all deadlines and accused Taylor of experiencing “seller’s remorse.”