Marc Lore and Alex Rodriguez say they have emerged victorious in their long, bitter battle with Glen Taylor for ownership of the NBA’s Minnesota Timberwolves and WNBA’s Lynx.
“Marc Lore and Alex Rodriguez today announced that the arbitration in the Minnesota Timberwolves and Lynx ownership dispute was decided in their favor,” a statement provided to The Athletic read. “The decision endorsed Lore and Rodriguez’s interpretation of the purchase agreement and confirmed that the contractually agreed timeline for Lore and Rodriguez to obtain NBA approval and complete their acquisition of the teams has not expired.”
A three-person arbitration panel issued its ruling on Monday, saying that Lore and Rodriguez were entitled to a 90-day extension last spring to complete their purchase of the teams. That means the partners will have the time they said the contract entitled them to so they can go through the league approval process to take control of the Wolves and Lynx.
Taylor agreed to sell the teams to Lore and Rodriguez in 2022 for $1.5 billion. At the time, the plan was for Lore and Rodriguez to gradually assume control of the team in three installments over three years. So far, Lore and Rodriquez have made two payments and played integral roles in shaping the direction of…
