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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 ...
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 ...
The ownership transfer of the Minnesota Timberwolves must continue as originally planned, after a three-person arbitration panel ruled 2-1 that controlling owner Glen Taylor must cede control of ...
The process of Lore and Rodriguez becoming majority owners started in 2021 when Taylor agreed to sell the Timberwolves and the WNBA’s Minnesota Lynx to Rodriguez and Lore.
The Minnesota Timberwolves ownership dispute is moving into mediation. ... struck an agreement with Taylor in 2021 to buy the Timberwolves and the Minnesota Lynx WNBA franchise for $1.5 billion ...
The Lynx have won four WNBA titles, while the Wolves have failed to reach even one NBA Finals under his ownership, which includes a 14-season playoff drought from 2004 to 2018. In 2000, Taylor received a nine-month suspension after signing Joe Smith to a secret contract in violation of the league's salary cap rules. [ 16 ]
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 ...
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]