Minnesota Timberwolves owner Glen Taylor is no longer selling his controlling stake in the franchise to minority owners Marc Lore and Alex Rodriguez, he announced Thursday.
Taylor alleges Lore and Rodriguez failed to meet certain contractual deadlines and obligations of the sale process, which began in 2021. Sources told ESPN that the relationship between Taylor and his successors — Lore and Rodriguez — disintegrated over the past two years.
Minnesota (50-22) is having its best season in years and is just a half-game out of first place in the Western Conference.
In a statement given to ESPN, Lore and Rodriguez maintained they have met their financial obligations to Taylor, including a final payment last week. In 2021, Taylor agreed to sell the Timberwolves and WNBA’s Minnesota Lynx for $1.5 billion, with a structure that called for a transfer of power over a number of years as Lore and Rodriguez made a series of payments.
“We are disappointed with Glen Taylor’s public statement today,” Lore and Rodriguez said in the statement. “We have fulfilled our obligations, have all necessary funding and are fully…
