Anthony Edwards’ Contract Termination Seems Imminent if Alex Rodriguez Takes Financial Control of Timberwolves
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The Minnesota Timberwolves’ ownership dispute has left the franchise’s future in limbo. Timberwolves majority owner Glen Taylor voided the 2021 deal- that would sell the team to minority owners Alex Rodriguez and Marc Lore on March 28, 2024. One of the major reasons speculated for Taylor’s shocking decision was his disagreement with Rodriguez and Lore’s vision after taking financial control. Their plan could even jeopardize Anthony Edwards’ future in Minnesota.
According to NBA Insider Adrian Wojnarowski, Lore and Rodriguez submitted financial projections planning to lower the team’s payroll to $171 million starting next season. That would put the Timberwolves below the projected luxury tax threshold of $172 million. The move would take the Timberwolves from paying over $25 million in luxury tax to receiving a tax distribution of nearly $6.5 million.
ESPN Sources: Timberwolves minority partners Marc Lore and Alex Rodriguez submitted financial projections forecasting a sizable retreat in roster payroll that majority owner Glen Taylor believed would jeopardize franchise’s ability to compete for a title: https://t.co/LsJETfp6OV
— Adrian Wojnarowski (@wojespn) April 10, 2024
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Although the decision would decrease the franchise’s financial burden, it could ruin their chances of competing for a Championship. Anthony Edwards signed a 5-year $260 million supermax extension with the Timberwolves last summer. His new contract will be applicable from the beginning of next season. But with Rodriguez and Lore’s new vision, the Timberwolves would’ve found it difficult to afford Ant-Man’s contract while keeping the rest of their roster.
Apart from Edwards’ new contract, Karl-Anthony Towns’ 4-year $224 million deal is also scheduled to start next season. Rudy Gobert will also begin the 4th year of his 5-year $205 million deal he signed in 2020 with the Utah Jazz. He will make $43.8 million next season. With Anthony Edwards’ supermax contract kicking in, there is little to no chance the Timberwolves will be able to keep all three superstars while lowering the team’s payroll to only $171 million. If Alex Rodriguez and Marc Lore take financial control of the team and follow through with their vision, they might have no choice but to terminate Edwards’ contract!
Is Glen Taylor protecting the Minnesota Timberwolves from eventual doom?
The Minnesota Timberwolves are having their best season in years. They are the top seed in the stacked Western Conference with a 55-24 record. At just 22 years old, Anthony Edwards has turned the Timberwolves from a lottery team to a Championship contender. And Glen Taylor does not want to kill the team’s momentum by jeopardizing their financial future. Woj reported that Rodriguez and Lore’s cost-cutting plan was one reason Taylor voided the contract.
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After decades of futility, the Timberwolves are the West’s top seed and Lore and Rodriguez’s cost-cutting projections were among the concerns that led Taylor to void a contract that would’ve finalized the sale of the Timberwolves and WNBA Lynx, sources said.
— Adrian Wojnarowski (@wojespn) April 10, 2024
Glen Taylor, along with the NBA and The Carlyle Group, a private equity firm involved in the ownership discussions, viewed their budget projection as a threat to the team’s competitiveness. The Timberwolves are on an upward trajectory. They have found the new face of their franchise in Anthony Edwards and surrounded him with multiple superstars and a deep roster. Even if the Timberwolves do not win a Championship this season, they might soon reach the top of the mountain with Anthony Edwards as their leader.
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However, it might all go to waste because of money restrictions. Even if Rodriguez and Lore take control of the franchise, they might need to re-evaluate their financial strategy to keep the team’s Championship dream alive.
Unlike Caitlin Clark, Attention Makes Anthony Edwards’ Life Difficult With Timberwolves; Popular Podcast Discusses
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Daniel D'Cruz