Glen Taylor, Alex Rodriguez, and Marc Lore Headed to Arbitration Over Timberwolves and Lynx Sale Dispute

Glen Taylor, Alex Rodriguez, and Marc Lore Headed Toward Arbitration in Minnesota

After failed attempts at mediation, the dispute over the sale of the NBA’s Minnesota Timberwolves and WNBA’s Minnesota Lynx between current owner Glen Taylor and prospective buyers Alex Rodriguez and Marc Lore is now headed toward arbitration.

The disagreement stems from a section of the sales agreement that outlines the terms of the transaction and how disputes will be resolved. Lore and Rodriguez claim they had lined up financing and were waiting for league approval, entitling them to a 90-day extension per the agreement. Lawyers who have reviewed the agreement believe Lore and Rodriguez have a strong case.

Taylor, on the other hand, has raised concerns about the buyers not meeting certain benchmarks ahead of closing. The circumstances that led to the disagreement will be crucial in determining the outcome of the arbitration.

NBA commissioner Adam Silver has stated that the league will not intervene in the dispute, leaving Lore, Rodriguez, and Taylor to settle the matter through arbitration. The panel will consist of three individuals, including one lawyer approved by each side and a retired judge from Minnesota.

The sale of the Timberwolves and Lynx is valued at $1.5 billion, which some believe is below market value for the franchises. With NBA team prices soaring in recent years, Taylor could potentially fetch over $3 billion for the team if it goes to the NBA Finals.

The outcome of the arbitration will have significant implications for the future ownership of the Timberwolves and Lynx, as well as the financial interests of all parties involved. Stay tuned for updates as the arbitration process unfolds.