Timberwolves dispute between Taylor and Lore, Rodriguez over ownership moves to mediation
Time:2024-04-25 02:42:49 Source:travelViews(143)
MINNEAPOLIS (AP) — The Minnesota Timberwolves ownership dispute is moving into mediation.
The first session toward determining whether Glen Taylor will remain controlling owner or cede to Marc Lore and Alex Rodriguez has been scheduled for May 1, according to a person with knowledge of the situation. The person spoke to The Associated Press on condition of anonymity Tuesday because the details were not being publicized. ESPN first reported the news.
The 82-year-old Taylor announced March 28 that he was exercising his right to pull out of the last part of the unusually structured deal because Lore and Rodriguez did not meet the deadline for the final payment — about $600 million — that was to transfer an additional 40% stake of the club.
Lore and Rodriguez vehemently disagreed. The pair said they were waiting on NBA approval for the paperwork they’d submitted by the March 27 deadline that entitled them, per the contract, to a 90-day extension. They accused Taylor of simply having seller’s remorse because the value of the Timberwolves has increased since the agreement, mirroring a continued spike in NBA revenues.
Previous:NBA says Tyrese Maxey was fouled
Next:NASA leaders discuss global challenges, solutions with Mexico president, lawmakers and students
You may also like
- Billie Piper claims her Sky drama I Hate Suzie 'didn't get a big enough audience'
- Hostile intention hides in US “support” for WHO
- Evil tactics to demonize fight against virus
- Griezmann scores 2 as Atletico Madrid beats Girona 3
- NATO newcomer Finland is now a 'front
- To ensure that the global economy grows on right track
- Morale plunges amid setbacks as Myanmar’s junta looks for scapegoats — Radio Free Asia
- Chinese modernization conceived in China, opportunities it brings belong to world
- China restores 6.7 mln ha of land in ecological remediation drive