Timberwolves dispute between Taylor and Lore, Rodriguez over ownership moves to mediation
MINNEAPOLIS (AP) — The Minnesota Timberwolves ownership dispute is moving into mediation.
The first session toward determining whether Glen Taylor will remain controlling owner or cede to Marc Lore and Alex Rodriguez has been scheduled for May 1, according to a person with knowledge of the situation. The person spoke to The Associated Press on condition of anonymity Tuesday because the details were not being publicized. ESPN first reported the news.
The 82-year-old Taylor announced March 28 that he was exercising his right to pull out of the last part of the unusually structured deal because Lore and Rodriguez did not meet the deadline for the final payment — about $600 million — that was to transfer an additional 40% stake of the club.
Lore and Rodriguez vehemently disagreed. The pair said they were waiting on NBA approval for the paperwork they’d submitted by the March 27 deadline that entitled them, per the contract, to a 90-day extension. They accused Taylor of simply having seller’s remorse because the value of the Timberwolves has increased since the agreement, mirroring a continued spike in NBA revenues.
Related articles
Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
PRISTINA, Kosovo (AP) — Kosovo’s Cabinet renewed efforts with a new draft law on renting a prison in2024-05-21South Carolina coach Dawn Staley gushes over congratulations from Queen B
COLUMBIA, S.C. (AP) — South Carolina coach Dawn Staley has met plenty of noteworthy celebrities duri2024-05-21Appeals court leaves temporary hold on New Jersey's county line primary ballot design in place
PHILADELPHIA (AP) — A federal appeals court on Wednesday affirmed a lower court’s decision to order2024-05-21Fans hail new drama miniseries as a 'masterclass in acting' and demand star is given an Emmy
Fans have lauded Disney+'s latest drama miniseries a 'masterclass in acting' and are already calling2024-05-21Germany's foreign minister visits Kyiv as Ukraine battles to hold off a Russian offensive
KYIV, Ukraine (AP) — Germany’s foreign minister arrived in Kyiv on Tuesday in the latest public disp2024-05-21Democrats clear path to bring proposed repeal of Arizona’s near
PHOENIX (AP) — Democrats in the Arizona Senate cleared a path to bring a proposed repeal of the stat2024-05-21
atest comment