Timberwolves owner Glen Taylor is no longer selling his controlling stake, saying minority owners Marc Lore and Alex Rodriguez didn't meet contractual deadlines.
Alex Rodriguez and Marc Lore planned to acquire a majority stake in the
Minnesota Timberwolves and Lynx owner Glen Taylor has issued a statement saying that the opportunity for Marc Lore and Alex Rodriguez to take control of the franchises has expired, meaning that he plans to retain his status as majority owner of the two basketball teams. Taylor issued the statement on Thursday morning, saying, “Under terms of the purchase agreement, the closing was required to occur within 90 days following the exercise notice issued by Lore and Rodriguez. That 90-day period...
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Glen Taylor will remain as majority owner of the Timberwolves and Lynx after a window for Marc Lore and Alex Rodriguez to close on a sale of a controlling interest expired Wednesday.
Glen Taylor will remain as majority owner of the Timberwolves and Lynx after a window for Marc Lore and Alex Rodriguez to close on a sale of a controlling interest expired Wednesday.
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Glen Taylor said Thursday that the deal was off, but A-Rod and Lore are
Glen Taylor will remain the majority owner of the Minnesota franchises
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While trying to close their deal to gain ownership of the NBA's Minnesota Timberwolves, Alex Rodriguez and business partner Marc Lore are looking for more funding quickly.
Baseball legend Alex Rodriguez and his billionaire business partner Marc Lore have gotten a step closer to completing a full takeover of the Minnesota Timberwolves.