MLB legend Alex Rodriguez and his business partner Marc Lore were close to buying the controlling stake of the Minnesota Timberwolves but the deal seems to be over. The ownership transfer ended when current owner Glen Taylor said Thursday that he would no longer partake in the final step of a $1.5 billion deal that was reportedly in place with Rodriguez and Lore.
As per Taylor, Alex Rodriguez and Marc Lore, who already own 40% of the franchise, didn’t meet the deadline requirements for the sale to go through. Rodriguez and Lore disputed Taylors claims and they are not letting go, as per The Athletic.
"We can be in this (fight) for five years, 10 years, whatever,” Rodriguez said. “We’re not going to let go."
Lore added:
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"We will use every ounce of effort here to enforce the contract that Glen broke."
Taylor spoke to The Associated Press on Thursday:
“We went through the process, and I spent a lot of time. We’ve got a really good team, we’ve got a lot of good things going for us, I enjoy it and I’m healthy enough to do this. I don’t need the money, so I think I’ll just keep running it and enjoy it. I like my coach. I like my staff. This way everybody gets to keep their jobs, and I’ll be happy.”
Alex Rodriguez and business partner accuse Glen Taylor of having “seller’s remorse”
After Glen Taylor announced that the ownership sale of the Minnesota Timberwolves and the WNBA’s Lynx would no longer go through, Alex Rodriguez and Marc Lore released a joint statement, which read:
“We have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process. Glen Taylor’s statement is an unfortunate case of seller’s remorse that is short sighted and disruptive to the team and the fans during a historic winning season.”
While it is too early to say who is at fault for the ownership transfer falling through, Rodriguez’s accusation of Glen Taylor having seller’s remorse isn’t crazy to comprehend. The Timberwolves have been one of the best teams in the NBA. They are currently first in the West with a 51-22 record.
Not since the days of Kevin Garnett have the Timberwolves been this relevant. The last time Minnesota was in the Western Conference finals was in 2004. They are just one of five teams to have never reached the NBA Finals.
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