As the Minnesota Timberwolves battle the Phoenix Suns in the playoffs, off-court drama unfolds regarding ownership. Longtime majority owner Glen Taylor, alongside minority partners Alex Rodriguez and Marc Lore, seeks resolution through mediation, reports ESPN’s Adrian Wojnarowski.
Rodriguez and Lore’s journey began with a $1.5 billion payment to Minnesota in 2021, followed by acquisitions totaling 36% ownership of the Timberwolves and the Minnesota Lynx in 2022 and 2023.
However, their bid for an additional 40% stake faced a setback when Taylor cited missed payments by the March 27 deadline, leading to a deadlock.
Minnesota Timberwolves Ownership Dispute Isn’t Affecting Team’s Great Playoff Run
Scheduled for May 1 in Minneapolis, the mediation aims to bridge the divide. Rodriguez and Lore hope to reinstate a 90-day extension, originally agreed upon, to gain NBA approval for their acquisition.
Despite the ownership turmoil, the Timberwolves shine on the court, winning 14 more games than the previous season and securing a third-place finish in the Western Conference with a 56-26 record. Their defensive prowess, leading the league, underscores their strength.
In the playoffs, the Timberwolves took a 1-0 series lead against the Suns with a convincing 120-95 victory. With momentum on their side and a strong performance, Minnesota eyes its first postseason series win since 2004, showcasing resilience amidst off-court challenges.
