Nov 4, 2024 - News

Timberwolves ownership arbitration begins

Nick Halter

A photo of Marc Lore, Alex Rodriguez and Glen Taylor holding basketballs — Marc Lore, Alex Rodriguez and Glen Taylor. Photo: David Sherman/NBAE via Getty Images

The battle for ownership of the Minnesota Timberwolves and Lynx goes to arbitration this week.

Why it matters: Whoever wins is likely to gain control of the team after a bitter falling-out.

The latest: A source with knowledge of the process — who was not authorized to discuss the matter — told Axios arbitration is expected to last a week and a decision would come a month later.

Catch up quick: Longtime owner Glen Taylor agreed to sell the team for $1.5 billion to Marc Lore and Alex Rodriguez in 2021 in a phased approach.

When Rodriguez and Lore were about to make a third and final payment earlier this year, Taylor called the deal off, saying they missed deadlines.
A-Rod and Lore have countered that they fulfilled all obligations of the deal.

How it works: Arbitration will happen before a three-member panel, according to Sportico, which cited anonymous sources.

Taylor picked retired Minnesota Supreme Court Justice Kathleen Blatz, according to the news organization.
A-Rod and Lore selected Delaware attorney Joseph R. Slights III.
The third, neutral arbitrator is retired Hennepin County District Court Judge Thomas Fraser. He is likely to break a tie, according to the outlet.

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Timberwolves ownership arbitration begins

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