By admin The actual reason Timberwolves’ Glen Taylor is attempting to bomb Alex Rodriguez, Marc Lore ownership sale.
Timberwolves owner Glen Taylor has made life difficult for Alex Rodriguez and Marc Lore by refusing to split ways with his team.
Timberwolves’ Glen Taylor says, “I’m not selling!” Next to Alex Rodriguez and Marc Lore.
Former MLB player Alex Rodriguez and businessman Marc Lore have been amassing equity over the last few years in order to gradually take over ownership of the Minnesota Timberwolves from long-time owner Glen Taylor. While the new ownership group was scheduled to make their final payment in order to become majority owners at the end of March, Taylor refused to proceed with the sale, claiming that they did not gather all of the necessary information before the expiration of their option to purchase under the terms of their original agreement.
The two parties have agreed to resolve this issue through mediation on May 1, which will not include the league office. Lore and Rodriguez have stated unequivocally that they adhered to the three-year ownership succession plan they agreed upon with Taylor, but the Timberwolves’ owner appears to have changed his mind about his role with the organization.
The ultimate purchase of ownership shares was scheduled to take place within 90 days after Lore and Rodriguez’s exercise notice, according to a press announcement. Taylor did not extend this 90-day period, which expired on March 27, 2024.
“I will continue to work with Marc, Alex, and the rest of the ownership group to ensure our teams have the necessary resources to compete at the highest levels both on and off the court,” Taylor stated in the team’s news release at the end of March. “The Timberwolves and Lynx are no longer for sale.”
So, what exactly happened to spark this conflict between the new ownership group, led by Rodriguez and Lore, and Taylor? It appears that there has been a schism between the two factions since changes in the front office were implemented.
Glen Taylor’s shattered connection with Alex Rodriguez and Marc Lore
Alex Rodriguez and Marc Lore, co-minority owners of the Minnesota Timberwolves, celebrate their team’s victory over the Los Angeles Clippers following a play-in game at Target Center.
When the Timberwolves fired Gersson Rosas as president of basketball operations, they immediately began looking for a top-tier executive who could help convert the organization into a legitimate contender. That is why Lore and Rodriguez pursued Tim Connelly, the architect of the Denver Nuggets’ ultimate championship roster. To persuade Connelly to leave Denver, the Timberwolves’ new ownership group offered him a five-year, $40 million contract with phantom stock in the club, according to Joe Pompliano of the Huddle Up Substack.
This did not set well with Taylor. In addition to believing that the organization was overpaying for their new CEO, Taylor objected to the idea of setting a new precedent by granting the president of basketball operations equity in the team. Taylor eventually accepted Connelly’s hire, on the condition that Rodriguez and Lore delete the phantom equity clause from the executive’s new contract.
Overall, it became evident that Taylor was uncomfortable with the prospect of relinquishing control over his franchise. He was strongly opposed to the team’s 2022 trade for Rudy Gobert, and Taylor was not pleased with Rodriguez and Lore’s pursuit of Connelly away from the Nuggets. As the new ownership group pushed forward with its vision, the 83-year-old owner became increasingly dissatisfied with the direction of his club.
Whereas Rodriguez and Lore are “new school” in the sense that they have spent money to achieve what they want, Taylor has always structured his business in a way that has allowed him to accumulate certain things over time. This move has undoubtedly strained the two parties’ relationship, prompting them to seek mediation for the sale of the team.
The Timberwolves finished the 2023-24 regular season with a 56-26 overall record, the second-best in franchise history. Taylor has been reticent to sell the final bit of his shares to Lore and Rodriguez because he does not want to leave the franchise when it is in the midst of something extraordinary. In the end, he may have no option.
What happens next is still uncertain. Taylor wishes to remain in charge of the Timberwolves, but he signed a contract with Lore and Rodriguez, allowing them to eventually take majority control away from the long-term owner. That time has come, and despite Taylor’s refusal to sell, mediation may probably favor Lore and Rodriguez.
Whether it’s a personal grudge or anything else, Taylor simply wants to prevent the new owners from taking over because he feels they’ll demolish everything he’s created over the years. Taylor’s days as the Timberwolves’ primary owner appear to be numbered, since he has repeatedly attempted to destroy this deal with Lore and Rodriguez over the years.
Brett Siegel is an NBA insider and reporter for ClutchPoints. He has previously covered the NBA for SI FanNation’s Fastbreak and the NBA Analysis Network, as well as Louisville Basketball. Brett lives in New Jersey after earning his degree from Louisville.