The battle for control of the Minnesota Timberwolves continues as the first session to determine the fate of the team’s ownership has been scheduled for May 1. The current owner, 82-year-old Glen Taylor, announced his decision to pull out of a deal with potential buyers Marc Lore and Alex Rodriguez due to a missed payment deadline of $600 million.
Lore and Rodriguez, however, claim they were waiting on NBA approval for an extension, as outlined in the contract. They accused Taylor of having seller’s remorse, citing the increased value of the team since the initial agreement. Taylor, on the other hand, expressed his change of heart was due to the success of the team’s season and his enjoyment of running the organization.
Commissioner Adam Silver stated that the league is unlikely to intervene in the dispute, but the situation may prompt changes to NBA rules regarding ownership transactions in the future. Despite the ongoing legal battle, Taylor, Lore, and Rodriguez were seen conversing amicably after a recent playoff game.
The trio’s interactions have been closely watched by fans and analysts alike, as the future of the Timberwolves hangs in the balance. As the saga unfolds, the NBA community eagerly awaits the outcome of the ownership dispute and its potential impact on the team’s future.