Glen Taylor

Glen Taylor: Timberwolves No Longer For Sale

Published

8 months ago

March 28, 2024

Joshua

Glen Taylor: Timberwolves No Longer For Sale

In a bombshell report brought to fans by the Minnesota Timberwolves’ PR team, then confirmed by ESPN’s Adrian Wojnarowski, it has been learned that Glen Taylor is no longer selling the franchise.

Taylor will remain the controlling owner after Marc Lore and Alex Rodriguez reportedly did not close on their option by the March 27th deadline. This has sparked controversy, with fans unsure of what to think.

Lore and Rodriguez agreed to purchase the Timberwolves at an evaluation of $1.5 billion. It allowed them to gain 20 percent of the team in July 2021, 20 percent more in 2022, and 40 percent more in 2023. Each year, they were able to purchase more ownership of the team.

Dyal Capital Partners were expected to come in to help finalize and finance the last purchase; Wojnarowski reported both Lore and Rodriquez had the necessary funds to complete this transaction, so money wasn’t the issue.

However, Wojnarowski did report that both sides were drifting apart and had not been as positive since they agreed to the sale in 2021. This has led to Taylor outright saying Minnesota’s franchise is no longer for sale.

According to The Athletic, mediation and arbitration will be needed to resolve any disputes concerning the fallout of this purchase. There is good news, though, for Lore and Rodriguez: they’ll be able to retain 40% of the ownership they already purchased.

This is due to the terms agreed to when the payments for the team were underway.

Here is Glen Taylor’s statement:

“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,” said Taylor. “The Timberwolves and Lynx are no longer for sale.”

Here is A-Rod’s and Lore’s statement:

“We are disappointed with Glen Taylor’s public statement today. We have fulfilled our obligations, have all 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 and disruptive to the team and the fans during a historic winning season.”

Glen Taylor

The most unlikely duo to buy an NBA Franchise!

Published

4 years ago

April 10, 2021

Joshua

The most unlikely duo to buy an NBA Franchise!

The most unlikely duo to buy an NBA Franchise! Alex Rodriguez and Marc Lore have bought the Minnesota Timberwolves, a baseball player and a billionaire joined forces to buy the team for a lengthy price.

The price? It is somewhere in the 1.5 billion dollar range. A-Rod was in-bid of buying the Mets, however, the original owner decided to go with someone else.

Glen Taylor will be owner for two more years as he will mentor them until he leaves in 2023. In 2023 we will see those two the full co-owners.

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ALERT

BREAKING: Glen Taylor wants out!

Published

4 years ago

July 22, 2020

Joshua

BREAKING: Glen Taylor wants out!

BREAKING: Glen Taylor wants out! Yes, you read that correctly. The Timberwolves owner, Glen Taylor, is looking to sell the team to the highest bidder.

It has been rumored that multiple people want this team and are bidding in this, one of the rumors surfaced through Twitter as Kevin Garnett wants to own the team. Another rumor surfaced through the internet, saying that the Wilfs are going to buy out the Timberwolves.

First of all, who is the Wilfs?

If you do not know who the Wilfs are, the Wilfs are the owners of the Minnesota Vikings (NFL franchise). The wilfs have emerged as the top serious candidates to own this Minnesota franchise.

Second of all, how is Kevin Garnett going to bid?

Kevin Garnett is looking to put together a group of people to help invest in this team. Garnett said that he would like to get this deal done with Glen Taylor because he wants to achieve his dream of buying the team.

Garnett played 14 seasons with the T’Wolves and it seems like that is a place that he wants to remain in. It appears that if he gets that team; he would feel right at home because that has been his team through the majority of his career.

Does it really matter if KG is in the picture?

It really doesn’t, and here’s why. The Wilfs might spend whatever kind of money to get this team, to expand across Minnesota, and to their family a huge sports empire over Minnesota.

Me personally, I believe that the Wilfs will get that team. Because they might put a lot more money into the team than what KG had wanted to put into the team, even if it was one of his dreams he wanted to achieve.

Now, do I think this team will be sold soon? Yes, yes I do. Glen Taylor has been controlling and running this team since 1994. That has been about 26 years in counting, and the price he is listing it at isn’t bad at all. He is listing it for 1.2 Billion dollars, the current net worth is 1.4 Billion.

I believe the top contenders so far will be the Wilfs family, they will expand, and I do believe they will spend a little extra to ensure they have the team secured.

Just imagine having some big-name teams under your control, in the same state and city. That’s going to be great for them.

What do you guys think will happen? Do you think KG will win or the Wilfs? Comment below to let us know your opinions!