The Timberwolves sale is one of the most unique transactions in sports history
The Timberwolves sale is one of the most unique transactions in sports historyAlex Rodriguez and Marc Lore will soon assume control of the Minnesota Timberwolves, an investment that will be marked up $1.5 billion on day one.
After a multi-year dispute that ended up in arbitration, the Minnesota Timberwolves will soon have a new ownership group. A three-member arbitration panel has ruled in favor of Alex Rodriguez and Marc Lore, effectively saying long-time Timberwolves owner Glen Taylor had no legal standing to cancel their purchase agreement last year. Rodriguez and Lore will still need to go through the NBA’s official approval process, including a vote by the Board of Governors. However, that is just a formality at this point. They have the remaining $950 million sitting in an escrow account and will likely assume control of the Timberwolves and the WNBA’s Lynx sometime this year. This adds another chapter to one of the craziest transactions in sports history. Many people will focus on the headline, but the details could be a movie. From the minute Glen Taylor signed the initial agreement, he began undermining it behind the scenes, later purchasing additional shares to remove Rodriguez and Lore from the picture… Subscribe to Huddle Up to unlock the rest.Become a paying subscriber of Huddle Up to get access to this post and other subscriber-only content. A subscription gets you:
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