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“The Timberwolves and Lynx are no longer for sale.” In a subsequent statement to the Associated Press , Taylor presented the about-face as a plus, saying “I don’t need the money, so I ...
FILE - Minnesota Timberwolves minority owners Marc Lore, middle left, and Alex Rodriguez, middle right, watch during the second half of an NBA basketball game against the New York Knicks Dec. 19 ...
The Timberwolves (50-22) beat Detroit on Wednesday to reach the 50-win mark for just the fifth time in the 35-year history of the franchise. They're tied for second place in the Western Conference ...
On March 28, 2024, Glen Taylor announced that the sale of the team to prospective owners Marc Lore and Alex Rodriguez was off. [122] Lore and Rodriguez were expected to make their third and final payment installment to Taylor on March 27, 2024, raising their ownership interest from 40% to 80% in both the Timberwolves and Lynx, stemming from the ...
MINNEAPOLIS (AP) — The ownership transfer of the Minnesota Timberwolves must continue as originally planned, after a three-person arbitration panel ruled 2-1 that controlling owner Glen Taylor must cede control of the NBA club to partners Marc Lore and Alex Rodriguez in the disputed final phase of the $1.5 billion sale that was uniquely arranged nearly four years ago to give Lore and ...
T-Wolves, Lynx ‘no longer for sale’ Timberwolves and Lynx owner Glen Taylor announced suddenly this week that, after years of negotiations and partial acquisitions, the two teams are no longer ...
After months of speculation, on May 23, 1994, Top Rank successfully purchased the franchise for $152.5 million with the intention of relocating it to New Orleans. [14] The purchase occurred following an agreement between Top Rank and Timberwolves ownership that allowed Top Rank to purchase the franchise if no local ownership groups were found by May 20, 1994. [15]
Rodriguez and Lore agreed to purchase the Timberwolves and Lynx from Taylor for $1.5 billion in 2021. They purchased a 20% stake initially, and then had three future options that would have given ...