• Loading stock data...
Tuesday, April 16, 2024
  • -
    days
  • -
    hours
  • -
    minutes
  • -
    seconds

A-Rod Group Vows to Take ‘Whatever Actions Are Necessary’ in Fight for Timberwolves

  • Marc Lore accused current owner Glen Taylor of trying to wriggle out of a deal he no longer liked. 
  • Rodriguez and Lore are currently talking to the NBA after Taylor said the ‘team is no longer for sale.’
Bruce Kluckhohn-USA TODAY Sports

Alex Rodriguez plans to go down swinging. 

Roughly a day after the former baseball star and his business partner, Marc Lore, saw their window to buy the Timberwolves close, the duo plans to continue its pursuit. Longtime owner Glen Taylor said Thursday that the team is “no longer for sale,” after the Rodriguez-Lore group missed a deadline. Lore accused Taylor of concocting a narrative to get out of a deal he no longer liked. 

“We’re going to be the owners of the Minnesota Timberwolves,” Lore told Sportico in a story published Friday. “It’s just a matter of time, and how much pain Glen wants to put the fans, the players, the town and community through. It’s his choice. It didn’t have to be this way.”

The Timberwolves did not immediately respond to a request for comment. 

Lore and Rodriguez reached a four-part deal with Taylor in 2021 to buy the team for $1.5 billion by purchasing 20% at a time. The deal came at a time when the valuations of sports franchises were climbing, and Taylor could feasibly get more than the original price should he resell the team. Sportico recently valued the franchise at almost double what Taylor agreed to sell it for. 

Rodriguez and Lore own about 40% and were in the process of buying another 40% when Taylor said they missed their deadline. A venture capital group the duo was using pulled out of the deal, leaving them scrambling to find money. Lore said they submitted the financial paperwork days before the March 27 deadline and were entitled to the 90-day extension window from the purchase agreement. Taylor said in his statement Thursday that the circumstances for the extension “did not occur.”

Rodriguez, Lore, and their lawyers are currently talking to the NBA. Meanwhile, the team is in second place in the Western Conference with a record of 50–22. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Mythical Knicks Pitch to LeBron James With ‘Sopranos,’ Trump, Weinstein Leaks 14 Years Later

Video shows Tony and Carmela Soprano recruiting LeBron James to the Knicks.

For Caitlin Clark and Other Rookies: Now a 29-Day Sprint to WNBA Debut

The league regular season starts swiftly after college basketball ends.

WNBA Draft Fashion Has Come a Long Way From ‘Most Athletic Accountants’ Era

The WNBA draft used to have a strict dress code, a former top pick tells FOS.

Jontay Porter Bet ‘Millions’ on FanDuel Account: Report

The Raptors forward is currently under league investigation.
podcast thumbnail mobile
Front Office Sports Today

Inside the Most-Hyped WNBA Draft in History

0:00
0:00

Featured Today

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.
April 6, 2024

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.
Mar 31, 2024; Portland, OR, USA; NCAA officials measure the three point line while coaches from the Texas Longhorns and NC State Wolfpack watch with referees in the finals of the Portland Regional of the NCAA Tournament at the Moda Center center.
April 1, 2024

NCAA Has No One to Blame for Latest Women’s March Madness Transgressions

NCAA is still making avoidable mistakes three years after a complete overhaul.
Nov 16, 2015; Bloomington, IN, USA; General view of the championship banners at Assembly Hall prior to the game between Austin Peay and Indiana.
March 31, 2024

How to Make It in Basketball: Become a Manager at Indiana

Inside the Hoosiers’ unglamorous, profoundly rewarding incubator for basketball’s biggest names.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Nike
Multiple - USA Careers
NBA
Multiple - USA Careers
Dunham's Sports
Multiple - USA Careers

Salt Lake City About to Land NHL’s Coyotes (Minus Their Name)

Salt Lake City’s NHL franchise will have a new name.
April 10, 2024

WNBA Has New Commercial Partner: Over-the-Counter Birth Control

WNBA teams up with FDA-approved over-the-counter birth control.
Ken Goldin
April 10, 2024

Goldin Auctions Acquisition by eBay Sparks Showdown With Fanatics

The online giant acquires the prominent high-end sports memorabilia auction house.
Sponsored

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
April 8, 2024

WNBA Commish Wants New Media-Rights Deal to Double Old One

The media-rights deal expires in 2025 to coincide with the Caitlin Clark effect.
April 4, 2024

WTA Finals Latest Sporting Event To Take Saudi Millions

Players can still wear normal attire, WTA says.
April 4, 2024

Taking a Toll: NYC Marathon Bridge Dispute Spotlights Debate Over Public Support for Sports

A local transportation authority demands money from organizers of the TCS New York City Marathon.
April 3, 2024

ATP-WTA Merger Talks Stalling Potential Tennis Expansion in U.S.

Saudi money could bring the tours together with a $2 billion bid.