Breaking News On Alex Rodriguez’ Ownership Dispute Could Force An End To Anthony Edwards’ Timberwolves Future

While Anthony Edwards hints at an elevated future for the franchise, an ownership dispute projects an uncertain cloud. The Minnesota Timberwolves‘ minority owners Marc Lore and Alex Rodriguez are involved in a legal disagreement with majority owner Glen Taylor. The issue came to light at March-end when Taylor retained his majority stake in light of the final purchase option held by Lore and Alex; leaving loose ends on the ownership of the Wolves and WNBA’s Lynx.

Now, nearly a month later, as commissioner Adam Silver asserted the league’s withdrawal from any involvement in the matter, Adrian Wojnarowski reports that Taylor and Lore/Alex Rodriguez group have agreed to a mediation session on May 1 in Minneapolis, amidst the 90-day automatic extension. Taylor argues the duo failed to meet the specifics of their sales for the ownership transition to take place, while the minority holders claimed otherwise.

“We 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,” a spokesperson on behalf of Lore and Alex said after Taylor’s hold-back. With that, the representative called Taylor’s actions “shortsighted and disruptive”.

A-Rod and Lore would be an inclining transition for the Wolves. The two were pivotal in hiring Nuggets’ Tim Connelly as Timberwolves’ head of basketball operations. Tim, in one of his earlier moves, bought in Rudy Gobert to bolster the team’s defensive acumen – something that enables young stars like Anthony Edwards to cruise freely on the court. However, Edwards’ freedom won’t be for much longer when Alex Rodriguez and Lore finally get their shot-calling rights.

Anthony Edwards might have to take a pay cut

The documents Alex and Marc shared with the NBA, Taylor, and The Carlyle Group (private equity firm) displayed their possible approach for the Wolves’ salary budget. Interestingly, Lore and Rodriguez’s cost-cutting projections added to the concerns behind Taylor’s forceful reassessment of finalizing a sale.

The minority ownership duo, as potential majority owners of the Wolves, planned on lowering the Timberwolves’ total payroll to under $171 million since the start of the coming season. It would have put the team below the luxury tax threshold of $172 million. This would take enable the Wolves to receive a tax distribution of nearly $7 million from having more than $25 million in tax payments.

This could mean that the Wolves’ superstar, Anthony Edwards, might have to take a pay cut or a decision. His initial contract will come to an end this year. With that, it will kick in his extension, expecting him to earn over $200 million over five years.

To the potential dissatisfaction the cut might harbor their star players, Lore thinks that the approach could hurt the franchise’s chances to compete for a championship in the future. However, Rodriguez and Lore and no strangers to making moves around the roster. With their minority stake, they approved contract extensions for Mike Conley and Jaden McDaniels recently, who have proven to be key role players in the Wolves’ surge.

Nevertheless, Taylor, from purchasing the team in 1994, has come a long way to see the franchise’s best season in the modern-day era. One can’t argue against his perspective to keep the graph rolling upward, and reaping the berries of his nearly 3 decades of hard work.