The Minnesota Timberwolves ownership dispute has reached a new stage with mediation scheduled for May 1. This meeting will determine whether Glen Taylor remains the controlling owner or if he will cede control to Marc Lore and Alex Rodriguez. The dispute stems from Lore and Rodriguez not meeting a deadline for a final payment of approximately $600 million, which would have transferred an additional 40% stake of the club. Lore and Rodriguez claim they were waiting for NBA approval for paperwork they submitted on time, which entitled them to a 90-day extension. They have accused Taylor of having seller’s remorse due to the increased value of the Timberwolves since the agreement was made. Taylor initially announced his decision to withdraw from the deal last month, citing the positive atmosphere surrounding the team during a successful season. However, Lore and Rodriguez have remained adamant about their commitment to acquiring the franchise. NBA Commissioner Adam Silver has indicated that the league is unlikely to intervene in the dispute. The outcome of the mediation will have implications for the future of the Timberwolves and could lead to changes in the NBA’s rules for team ownership transactions.
Timberwolves Ownership Dispute Heads to Mediation
