Timberwolves Ownership Drama Involving A-Rod, Marc Lore Marches On

November 4, 2024

This Timberwolves ownership saga has all the makings of a high-stakes showdown, and it’s hard to see either side backing down.

Glen Taylor, the longtime majority owner, is doing everything in his power to keep his grip on the team. He’s a Minnesota staple, deeply connected within NBA circles, and that loyalty among owners could play a big role in this outcome.

Meanwhile, Marc Lore and Alex Rodriguez, who’ve been gradually ramping up their stake in the franchise, are laser-focused on taking control, armed with significant financial backing and fresh connections of their own.

Per Brian Windhorst of ESPN, it all seemingly comes down to the disputed payment structure. Taylor argues there’s been a breach in their agreement, giving him grounds to stop the sale.

Lore and Rodriguez claim they’re fully compliant and simply awaiting NBA green lights. If the arbitration panel agrees with Taylor, Lore and Rodriguez could end up stuck as minority partners, or even forced to sell off their shares with Taylor’s blessing.

But if Lore and Rodriguez get the ruling they want, Taylor would be compelled to sell them majority control at the initial $1.5 billion price — a significant discount given today’s NBA valuations.

And as we’ve seen before, getting ownership approval is no slam dunk. Even if Lore and Rodriguez win arbitration, they’ll still need 23 votes from fellow NBA owners to finalize the deal. That’s where Taylor’s deep relationships across the league could factor in.

NBA commissioner Adam Silver and Board of Governors chairman Larry Tanenbaum could work behind the scenes to avoid a divisive vote, but if it goes to a vote, Taylor’s decades-long ties to these owners might give him an edge.

In the meantime, the Wolves are navigating some serious financial concerns — reports of $100 million in luxury tax and over $150 million in operating losses. That financial strain likely motivated the big Karl-Anthony Towns trade with the Knicks and could impact future roster moves.

And there’s another subplot here with team president Tim Connelly, who deferred his opt-out clause this year but could very well exercise it next summer, depending on how this ownership drama unfolds.

Bottom line: This ownership battle could drag out well into the season, and for Timberwolves fans, it means plenty of uncertainty. The arbitration decision, expected next month, is just the first chapter.