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Mediation was unsuccessful this week in the dispute between minority owners and business partners Marc Lore and Alex Rodriguez and principal owner Glen Taylor over majority control of the NBA's ...
Rodriguez and Lore agreed to purchase the Timberwolves and Lynx from Taylor for $1.5 billion in 2021. They purchased a 20% stake initially, and then had three future options that would have given ...
The 2021 lawsuit by a shareholder of the Timberwolves and Lynx against Taylor over the initial sale of the team provided a window into the teams' ownership structure and how the deal with Purple ...
FILE - Minnesota Timberwolves minority owners Marc Lore, middle left, and Alex Rodriguez, middle right, watch during the second half of an NBA basketball game against the New York Knicks Dec. 19 ...
"The Timberwolves and Lynx are no longer for sale." Minnesota Timberwolves and Lynx minority owners Marc Lore and Alex Rodriguez talk in the fourth quarter of the game against the Phoenix Suns at ...
Lore and Rodriguez were expected to make their third and final payment installment to Taylor on March 27, 2024, raising their ownership interest from 40% to 80% in both the Timberwolves and Lynx, stemming from the April 2021 agreement to purchase the team. [119] However, Lore and Rodriguez's payment was not made by the deadline.
In addition to control of the Minnesota Timberwolves and Minnesota Lynx, financial damages are at stake in the ongoing ownership dispute between want-to-be buyers Marc Lore and Alex Rodriguez and ...
After months of speculation, on May 23, 1994, Top Rank successfully purchased the franchise for $152.5 million with the intention of relocating it to New Orleans. [14] The purchase occurred following an agreement between Top Rank and Timberwolves ownership that allowed Top Rank to purchase the franchise if no local ownership groups were found by May 20, 1994. [15]