Unpacking exactly what transpired to scuttle the completion of the sale of the Timberwolves from Glen Taylor to Marc Lore and Alex Rodriguez might take a while, and could be a matter for lawyers.
What we are left with for now is a messy drama by which both sides have conflicting viewpoints and seem keen on winning the battle of public opinion.
A New York Post story on what went wrong with the deal suggests that Lore wanted Rodriguez to pony up more money in this round of financing, and that A-Rod came up short. Lore, meanwhile, has reportedly been spending a lot of time on another high-profile venture — a start-up gourmet food delivery company called Wonder.
Whether Lore and Rodriguez remain invested in the Wolves or eventually sell what Taylor says is a 36% stake — assuming any challenges they make in court don’t hold up — remains to be seen.
Of prime interest to Wolves fans right now — secondary, still, to a team that is 50-22 and preparing for a huge game Friday against Denver — is what this all means for the future of the franchise.
To that end, a Taylor quote to the Star Tribune’s Patrick Reusse was quite interesting. I talked about it on Friday’s Daily Delivery podcast.
The Wolves have increased in value since the original sale was announced at $1.5 billion in 2021.
Said Taylor during a February interview with Reusse that was first published Thursday as all this was unfolding: “We could’ve gotten more — we could’ve gotten $2.5 billion paid upfront — but that person was going to try to move the team to Las Vegas.”