{"id":448996,"date":"2024-03-29T08:17:28","date_gmt":"2024-03-29T08:17:28","guid":{"rendered":"https:\/\/yebscore.com\/news\/?p=448996"},"modified":"2024-03-29T08:17:28","modified_gmt":"2024-03-29T08:17:28","slug":"alex-rodriguez-accuses-timberwolves-owner-says-nba-team-is-no-longer-for-sale","status":"publish","type":"post","link":"https:\/\/yebscore.com\/news\/alex-rodriguez-accuses-timberwolves-owner-says-nba-team-is-no-longer-for-sale\/","title":{"rendered":"Alex Rodriguez\u00a0Accuses Timberwolves Owner, Says NBA Team Is &#8216;No Longer For Sale&#8217;"},"content":{"rendered":"<p>Owner Glen Taylor said on Thursday that the Minnesota Timberwolves and Minnesota Lynx are no longer for sale. According to Taylor, Alex Rodriguez and Marc Lore, two potential purchasers, missed their deadline to finalize the agreement.<\/p>\n<h2>Alex Rodriguez Accuses Timberwolves Owner, Says NBA Team Is &#8216;No Longer For Sale&#8217;<\/h2>\n<p>Taylor was to be paid in installments by Lore and Rodriguez upon their agreement to purchase a controlling ownership in the franchises for an estimated $1.5 billion in 2021. By Wednesday, the deal was expected to be completed.<\/p>\n<p>Although Lore and Rodriguez had obtained the funding required to complete the transaction, Taylor maintains that they missed the timeframes specified in their contract. Their relationship deteriorated during the changeover phase.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Timberwolves owner not selling stake to Alex Rodriguez, Marc Lore &#8211; via <a href=\"https:\/\/twitter.com\/espn?ref_src=twsrc%5Etfw\">@ESPN<\/a> App <a href=\"https:\/\/t.co\/iRhlHyXVtn\">https:\/\/t.co\/iRhlHyXVtn<\/a><\/p>\n<p>&mdash; Zac\ud83c\udf34\ud83c\udf7b\ud83c\udf79 (@newc88) <a href=\"https:\/\/twitter.com\/newc88\/status\/1773620862052118776?ref_src=twsrc%5Etfw\">March 29, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Timberwolves said in a statement on Thursday that the team is no longer for sale and that Rodriguez and Lore were unable to fulfill a financial deadline of March 27 to complete their acquisition of the organization.<\/p>\n<p>\u201cWe are disappointed with Glen Taylor\u2019s public statement today,\u201d the pair said.<\/p>\n<p>\u201cWe have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process. Glen Taylor\u2019s statement is an unfortunate case of seller\u2019s remorse that is short sighted and disruptive to the team and the fans during a historic winning season.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Minnesota Timberwolves sale to Alex Rodriguez and Marc Lore falls apart <a href=\"https:\/\/t.co\/GTWw4OPhMl\">https:\/\/t.co\/GTWw4OPhMl<\/a>  <a href=\"https:\/\/twitter.com\/hashtag\/ArtUpdate?src=hash&amp;ref_src=twsrc%5Etfw\">#ArtUpdate<\/a><\/p>\n<p>&mdash; StockMarketUpdates (@FinancialsX) <a href=\"https:\/\/twitter.com\/FinancialsX\/status\/1773575844855996515?ref_src=twsrc%5Etfw\">March 29, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to The Athletic, the agreement states that arbitration and mediation will be used to settle disagreements such as these.<\/p>\n<p>Lore and Rodriguez already own 40% of the franchises, and this week they were supposed to increase their ownership to 80%. The former star of the New York Yankees, Lore, and Rodriguez apparently gained the backing of another private equity group, Dyal Capital Partners, after the Carlyle Group reportedly withdrew a $300 million investment earlier this month. In an effort to make the deadline, the group sent financial records to the NBA last week, according to The Athletic.<\/p>\n<p>A legal dispute seems to be developing based on the tone of Rodriguez and Lore&#8217;s statement.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Alex Rodriguez And Marc Lore Are No Longer Buying The Timberwolves <a href=\"https:\/\/t.co\/0DRWZKlVP0\">https:\/\/t.co\/0DRWZKlVP0<\/a><\/p>\n<p>&mdash; ZP Alabasium (@The_Real_Vlad_T) <a href=\"https:\/\/twitter.com\/The_Real_Vlad_T\/status\/1773568316222701787?ref_src=twsrc%5Etfw\">March 29, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Lore was the former CEO of Walmart, while Rodriguez is a former baseball star who became businessman.<\/p>\n<p>With Anthony Edwards developing into a superstar, the Timberwolves are 50-22, one game behind the Nuggets for the top spot in the Western Conference, and they will be a title contender for the foreseeable future.<\/p>\n<h3>How many World Series did Alex Rodriguez win?<\/h3>\n<p>His sole championship was with the Yankees, helping them defeat the Phillies in the 2009 World Series.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">Glen, due\u00f1o de los Timberwolves y las Lynx, confirm\u00f3 que se venci\u00f3 el plazo para que Marc Lore y Alex Rodr\u00edguez abonen otro 40% para quedarse con ambas franquicias.  <\/p>\n<p>No money no play: los empresarios no pagaron y Taylor no vende Minnesota; <a href=\"https:\/\/t.co\/xtjemLIVMf\">https:\/\/t.co\/xtjemLIVMf<\/a> <a href=\"https:\/\/t.co\/XX76Kn5hNa\">pic.twitter.com\/XX76Kn5hNa<\/a><\/p>\n<p>&mdash; basquetplus (@basquetplus) <a href=\"https:\/\/twitter.com\/basquetplus\/status\/1773558198123041122?ref_src=twsrc%5Etfw\">March 29, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h4>Who owns Minnesota Timberwolves?<\/h4>\n<p>Owner Glen Taylor said on Thursday that the Minnesota Timberwolves and Minnesota Lynx are no longer for sale. According to Taylor, Alex Rodriguez and Marc Lore, two potential purchasers, missed their deadline to finalize the agreement.<\/p>\n<h3>When did Alex Rodriguez buy Timberwolves?<\/h3>\n<p>As per the agreement, which was detailed in a lawsuit filed in 2021, Rodriguez and Lore acquired 20% of the Timberwolves in July of the same year.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Timberwolves owner Glen Taylor announced that he will retain his majority stake in the franchise after the final purchase option held by minority owners Marc Lore and Alex Rodriguez expired on Wednesday. Lore and Rodriguez disputed Taylor\u2019s claim:<a href=\"https:\/\/t.co\/IVDcpUJgtN\">https:\/\/t.co\/IVDcpUJgtN<\/a><\/p>\n<p>&mdash; Hoops Rumors (@HoopsRumors) <a href=\"https:\/\/twitter.com\/HoopsRumors\/status\/1773545618922971159?ref_src=twsrc%5Etfw\">March 29, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<p><strong>FOR MORE SPORTS COVERAGE-<\/strong><\/p>\n<p><a title=\"Woody Johnson Asserts Reports Of Him &amp; Coach Robert Saleh Having Feud Are False\" href=\"https:\/\/yebscore.com\/news\/woody-johnson-asserts-reports-of-him-coach-robert-saleh-having-feud-are-false\/\" rel=\"bookmark\">Woody Johnson Asserts Reports Of Him &amp; Coach Robert Saleh Having Feud Are False<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Owner Glen Taylor said on Thursday that the Minnesota Timberwolves and Minnesota Lynx are no longer for sale. According to Taylor, Alex Rodriguez and Marc Lore, two potential purchasers, missed their deadline to finalize the agreement. Alex Rodriguez Accuses Timberwolves Owner, Says NBA Team Is &#8216;No Longer For Sale&#8217; Taylor was to be paid in [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":409644,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[112,51],"tags":[25605,2215,25607,25608,25606],"class_list":["post-448996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-minnesota-timberwolves","category-nba","tag-alex-rodriguez-timberwolves","tag-nba-news","tag-nba-timberwolves-news","tag-nba-timberwolves-sale","tag-timberwolves-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts\/448996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/comments?post=448996"}],"version-history":[{"count":0,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts\/448996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/media\/409644"}],"wp:attachment":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/media?parent=448996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/categories?post=448996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/tags?post=448996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}