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Timberwolves Sale Drama: Rodriguez And Lore Clap Back As Owner Declares Franchise "No Longer For Sale"

Photo: Instagram/Glen Taylor

Glen Taylor, owner of the Minnesota Timberwolves and Minnesota Lynx, declared on Thursday that the franchises are no longer for sale. 

This announcement came after prospective buyers, Marc Lore and Alex Rodriguez, failed to meet the deadline to close the deal.

Taylor's decision stemmed from Lore and Rodriguez's inability to finalize the acquisition within the agreed-upon timeframe.

Photo: Instagram/Glen Taylor

Despite Lore and Rodriguez securing necessary funding, Taylor cited unresolved NBA approval processes and outstanding financial exchanges as reasons for the termination of the sale agreement.

Expressing disappointment with Taylor's statement, Lore and Rodriguez maintain that they have fulfilled their obligations and are committed to completing the purchase pending NBA approval. 

They attribute Taylor's actions to "seller's remorse" and deem it disruptive during a historic winning season for the Timberwolves.

The dispute, outlined in the purchase agreement, is expected to undergo mediation and arbitration for resolution. Lore and Rodriguez, who had already acquired a 40% stake in the franchises, were scheduled to increase their ownership to 80% this week.

Despite the sale turmoil, the Timberwolves stand at an impressive 50-22 record this season, contending for the top seed in the Western Conference. Recent signings, including guard Mike Conley's contract extension, signal the team's commitment to success amidst financial uncertainties.

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Source: CBS Sports 
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