Nuggets’ Michael Malone Backs Glen Taylor Flipping on Alex Rodriguez-Marc Lore’s $1.5 Billion Deal
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USA Today via Reuters
Mar 17, 2024; Dallas, Texas, USA; Denver Nuggets head coach Michael Malone reacts during the second half against the Dallas Mavericks at American Airlines Center. Mandatory Credit: Kevin Jairaj-USA TODAY Sports
On Thursday, the owner of T-Wolves announced that the proposed sale of the Minnesota Timberwolves and Minnesota Lynx to Marc Lore and Alex Rodriguez has fallen through. Back in 2021, Lore and Rodriguez agreed to a hefty $1.5 billion deal to buy a majority stake in both teams. The plan was for them to officially take the reins by Wednesday, March 27th, 2024, a date the duo followed suit. But Taylor claims they were unable to meet the closing deadline stated in the purchase agreement. As the news makes waves, Denver Nuggets coach Michael Malone backs Taylor’s decision to step back from all the dilly-dallying.
While the sale might have fallen through, Taylor still backs his team. “I will continue to work with Marc, Alex, and the rest of the ownership group to ensure our teams have the necessary resources to compete at the highest levels on and off the court. The Timberwolves and Lynx are no longer for sale.” Following the announcement, the Nuggets’ coach Michael Malone jumped in to concur, thanks to the team’s recent success. “I wouldn’t sell the team either,” he says.
Michael Malone on the Timberwolves:
“A lot to be excited about in Minnesota. I wouldn’t sell the team either.”
— Ryan Blackburn (@NBABlackburn) March 29, 2024
The dream of Marc Lore and Alex Rodriguez owning the Minnesota Timberwolves seems to have hit a snag. The story’s a bit murky, with both sides pointing fingers. Taylor claims the deal had a 90-day window to finalize after Lore and Rodriguez expressed their intent to buy. That window closed in March, and according to Taylor, they didn’t meet the deadline. Lore and Rodriguez, however, say they never breached the contract and believe Taylor’s reneging is due to something called “seller’s remorse.”
One theory suggests a financial hitch. The Timberwolves’ value has skyrocketed since the initial agreement. Some believe Taylor could now fetch upwards of $2.5 billion, a much sweeter deal than the original $1.5 billion. There are also whispers that Lore might have fallen short of his financial commitment in this round.
Timberwolves: Winning on the Court, Losing in the Boardroom
Meanwhile, a war of words has erupted. Lore and Rodriguez accuse Taylor of fabricating a story to escape a less lucrative deal. Taylor, on the other hand, maintains they’re simply enforcing the terms of the limited partnership agreement now that the main deal is off. This means restricted access to team facilities and personnel, a far cry from the pre-deal privileges they enjoyed.
The drama unfolds amidst the Timberwolves’ best season since 2004 (50-22). With Anthony Edwards as their superstar, Rudy Gobert and Karl-Anthony Towns looking after the defense, and sold-out games, the future looks bright. Now, a bitter feud threatens to overshadow this success. Will Lore and Rodriguez ever own the team? They somehow insist they still will, but legal challenges and a strained relationship with Taylor make the path fuzzy.
Timberwolves’ championship aspirations now share the spotlight with this ownership soap opera. Fans aren’t left feeling too happy with all the instability, however, Michael Malone surely seems to think that owner Taylor correctly backed out. What do you think? Share your thoughts in the comments below.
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Shivatmika Manvi