The Minnesota Timberwolves are currently embroiled in an ownership dispute that is set to undergo an initial mediation session on May 1st.
Owner Glen Taylor recently backed out of a deal to sell a majority stake in the Wolves to a group led by Marc Lore and Alex Rodriguez. Taylor claimed that Lore and Rodriguez failed to meet the contractual deadlines.
However, Lore and Rodriguez are challenging Taylor’s decision as they work towards finalizing their purchase of the Timberwolves. The deal was initially agreed upon in 2021 at a valuation of $1.5 billion, allowing them to acquire 20 percent of the team in July 2021, with an additional 20 percent in 2022 and 40 percent in 2023.
