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On Thursday morning, the NBA world was left stunned following news around the Minnesota Timberwolves. After months of reports that Alex Rodriguez was in the process of buying the franchise, that has now fallen through. The organization released a press release that the Timberwolves are no longer for sale.
As expected, NBA fans quickly rushed to social media to share their thoughts on the news. A-Rod found himself on the wrong side of jokes following the developments of his purchase falling through.
According to the press release, Rodriguez and Lore had 90 days to pay for controlling interest in the Timberwolves. That expired on March 27th, and an extension was not granted. After the deadline past, current owner Glen Taylor stated he has no interest in selling the franchise at the moment.
As the regular season comes to a close, Minnesota finds themselves with one of the top spots in the Western Conference. Led by All-Star Anthony Edwards, they have a record of 50-22. They continue to jocky for position with the Denver Nuggets and OKC Thunder for a top-three spot in the standings.
Failing relationship led to NBA sale of Timberwolves falling through
Not long after the news of the failed sale broke, Adrian Wojnarowski provided new details on the situation. He reported that the relationship between Alex Rodriguez and Glen Taylor has gotten worse over time. Woj also cited that they had the money raised to buy the team, but contractual deadlines were not met.
Rodriguez and Lore's venture with the Minnesota Timberwolves first began in 2021, when the pair bought 20% of the franchise. From there, they were slowly going to buy more stake from Taylor until they eventually became the majority owners. With each installment paid, they gained another 20% in the organization.
Following this news, there is no telling how things will play out regarding this NBA sale. While Rodriguez and Lore still have some ownership in the team, it appears Taylor isn't ready to give it all up just yet.
This year marks 30 years since Taylor first purchased the Timberwolves. He bought the franchise back in 1994 for a price of $88 million. Back in October, they were valued at $2.5 billion. This ranked 29th out of the 30 NBA teams. The Memphis Grizzlies are the only franchise worth less than them.
Following an impressive season this year, the Timberwolves' value is sure to go up in 2024.
Guess the Lakers players!
