Ex-MLB star Alex Rodriguez vows to keep trying to buy Timberwolves franchise despite rejection

After owner Glen Taylor announced that the Timberwolves franchise wasn’t for sale any longer, drama has unfolded this week around the NBA. The executive claimed that potential buyers Marc Lore and ex-MLB star Alex Rodriguez did not meet their deadline to close the deal, but the prospects have now pushed back by insisting that they fulfilled what was expected from them. 

Not only did they assure that they are committed to making this negotiation happen, they revealed that they aren’t letting go any time soon. At some point during the transition period, Taylor’s relationship with them soured despite A-Rod having recured the investment needed to finalise the sale.

The current owner is now saying that the buyers aren’t entitled to an extension, as the board of governors has not even approved the sale. Lore and Rodriguez released their own statement this week, revealing their intense disappointment in the way things are being handled in Minnesota.

Wolves owner Glen Taylor believes Marc Lore and Alex Rodriguez have not fulfilled the contract set to buy the team.

Lore and Rodriguez believe Taylor is having seller’s remorse.

Neither side appears ready to back down.

Details on the power struggle ⤵️https://t.co/0f4JJuRwmb pic.twitter.com/wxEVl67SR3

— The Athletic (@TheAthletic) March 29, 2024

“We are disappointed with Glen Taylor’s public statement today. We have fulfilled our obligations, have necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process. Glen Taylor’s statement is an unfortunate case of seller’s remorse that is short sighted [sic] and disruptive to the team and the fans during a historic winning season,” it reads.

According to a recent report by The Athletic, their agreements clearly states that any dispute of this sort should be resolved by mediation and arbitration. With this in mind, the former MLB star says that Taylor made things personal between them, and has only increased their thirst for buying the franchise.

“It is now personal,” Rodriguez told the press as soon as he found out the negotiations were supposed to be over. “We can be in this (fight) for five years, 10 years, whatever. We’re not going to let go.”

Recently on Dane Moore’s NBA podcast, Lore explained that the owner changed his mind on the team’s price during the negotiation process. “I think Glen just decided this team is worth a lot more than when he did the deal, and he no longer wants to abide by the contract. It’s plain and simple,” he explained.

Their intent to buy the Wolves franchise first started in 2021 and was supposed to close by last Wednesday

Both Lore and Rodriguez first agreed to buy the Minnesota team’s majority stake for a reported $1.5 billion back in 2021. This is when all parts agreed to deliver the payments in installments, as the acquisition was expected to close by this past Wednesday.

Taylor released a press release the next day, which came as a surprise to all. “Glen Taylor, Chairman of Taylor Sports Group, Inc., the general partner of Minnesota Timberwolves Basketball Limited Partnership (“Timberwolves and Lynx”), this morning confirmed the expiration of the option of Marc Lore and Alex Rodriguez to acquire controlling interest in the Timberwolves and Lynx,” it says.

“Under terms of the purchase agreement, the closing was required to occur within 90 days following the exercise notice issued by Lore and Rodriguez. That 90-day period expired on March 27, 2024. Under certain circumstances, the buyer could have been entitled to a limited extension. However, those circumstances did not occur,” Taylor assured.

“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,” he insisted. “The Timberwolves and Lynx are no longer for sale.”