NBA – Glen Taylor retains control of the Wolves and the Lynx (WNBA), the last payment of Alex Rodriguez and Marc Lore having ultimately not been validated.
It’s been almost three years since Alex Rodriguez et Marc Lore undertook to buy the Wolves/Lynx, for a total of 1.5 billion dollars. An operation which was spread over time, Glen Taylor gradually ceding control of the two franchises, NBA and WNBA, in particular to ensure that they will not leave Minneapolis.
After having already bought 40% of the franchises, in two installments, Alex Rodriguez and Marc Lore had until March 27 to validate the buyout of the additional 40%, which would give them full control of the Wolves/Lynx.
Except that after having to urgently find $300 million to make this last payment, following the withdrawal of the Carlyle Group investment fund, the two men were unable to validate their purchase. Glen Taylor thus explains in a press release that the deadline has passed, and that no extension is possible…
Glen Taylor has a hard time letting go of Wolves
“I will continue to work with Marc, Alex and the rest of the ownership group to ensure our teams have the resources necessary to compete at the highest level, on and off the field.”
, explains Glen Taylor. “The Timberwolves and Lynx are no longer for sale. »
Glen Taylor therefore remains majority owner, Alex Rodriguez and Marc Lore having only acquired 40% of the team. An extremely bizarre outcome for this very long-running soap opera in Minnesota.
According to ESPN, the relationship between Glen Taylor and the Rodriguez/Lore duo has deteriorated enormously over the past two years, with the owner claiming that his potential successors have failed to meet contractual deadlines, even though the former baseball player and his associate seem have raised the necessary funds. However, it is true that they obviously had difficulty doing so on time.
This is still the second time that Glen Taylor has canceled the sale of Wolves/Lynx at the last moment.
2024-03-28 15:07:44
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