Alex Rodriguez and his partner did not come up with the money to buy the team according to Glen Taylor.
What is the next step in the saga of the sale of Glen Taylor’s National Basketball Association’s Minnesota Timberwolves franchise and his Women’s National Basketball Association’s Minnesota Lynx franchise? According to Taylor, the businesses are no longer for sale after former Major League Baseball player Alex Rodriguez and his partner Marc Lore could not come up with the money to buy out Taylor’s majority share of the two sports franchises. Taylor took the businesses off the market but Rodriguez and Lore say that is not so, they met all contractual deadlines so they should be the majority owners. Rodriguez and Lore do own 40 percent of the two franchises and wanted to own 80 percent of the teams. Three years ago, Rodriguez and Lore reached a deal that would see the two and their partners take over controlling interest in the teams. The pair recently lost a potential investor when the Carlyle Group pulled out of the Rodriguez and Lore partnership. Rodriguez and Lore missed the March 27th deadline to pay Taylor and take over the businesses. Taylor then took the businesses off the market.
Rodriguez and Lore say the fight to take over the Timberwolves and Lynx is not over and the pair will own the businesses. Their statement might not go over so well with the NBA Board of Governors or WNBA leadership because in the end, the NBA and WNBA could just simply say Alex Rodriguez and Marc Lore, we don’t want you in our league and there is nothing they can do except sue. Rodriguez and Lore are sure not to win fans within the NBA ownership group with statements like Taylor is suffering from “seller’s remorse that is short sighted and disruptive to the team.” The fight is on.
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