While the Minnesota Timberwolves play the Phoenix Suns in their first-round playoff series, their ownership issue continues. Longtime Timberwolves majority owner Glen Taylor, along with minority partners Alex Rodriguez and Marc Lore, have scheduled a mediation date to resolve their continuing dispute, according to ESPN’s Adrian Wojnarowski.
In 2021, Rodriguez and Lore decided to pay Minnesota $1.5 billion in payments. In 2022 and 2023, they made two payments to purchase 36% of the Timberwolves and the Minnesota Lynx of the WNBA.
Last month, they were scheduled to pay an extra $600 million for 40% of the franchises. However, three years after they had signed the original contract, Taylor called it quits.
The 83-year-old claimed that by the deadline of March 27, Rodriguez and Lore had failed to make the last installments necessary to take over majority control. However, they asserted they could have done so if the NBA had approved their acquisition.
The parties have allegedly scheduled a mediation appointment for May 1 in Minneapolis to settle their differences. According to Wojnarowski, Rodriguez, and Lore, they will try to reinstate the 90-day extension term that was initially agreed upon to convince the league to ratify their contract.
Minnesota Timberwolves Ownership Dispute Isn’t Affecting Team’s Great Playoff Run
The long-running ownership conflict in Minnesota doesn’t seem to be detrimental to the team’s performance on the court. The Timberwolves, who won 14 more games than they did the previous season (42-40), finished third in the Western Conference this season (56-26) as per the NBA standings.
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They have won 56 games, the most since the 2003–04 campaign (58–24). Minnesota also has the best defense in the league.
In the opening game of their first-round playoff series, the Timberwolves led the Suns 1-0 and won easily at home, 120-95. Thus, it seems the team will finally win a postseason series for the first time since 2004.
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