Glen Taylor Exclusive Interview with Star Tribune
"The deal is not done. There are deadlines to be met. As always, the NBA must be satisfied with new ownership, as well as its financials."
The Lore-Rodriguez tandem already had been given an extension. That was reached on March 27 — this Wednesday.
"They missed it," Taylor said.
This was in a short phone interview with Taylor from his home in Mankato on Thursday. A couple of hours earlier, the Timberwolves sent out a news release that the NBA team and their partners, the Lynx, were no longer for sale.
"Lore and ARod now own 36 percent," Taylor said by phone. "I will work with them, as I do with my other limited."
That term is used by Taylor to describe a few other individuals who own small shares of the basketball business.
The purchase price of $1.5 billion negotiated by Lore and Rodriguez has been dwarfed by other sales of NBA teams — including in Milwaukee and Phoenix.
"We could've gotten more — we could've gotten $2.5 billion paid upfront — but that person was going to try to move the team to Las Vegas," Taylor said in February.
Litigation has been mentioned as a possibility for the Lore-ARod group, based on the claim they had lined up the financing. Response?
"It's business," Taylor said. "Everyone has the right to bring in the lawyers."
Read the full article here where he discusses Lore, Arod, Target center etc:
https://m.startribune.com/glen-taylor-majority-owner-timberwolves-lynx-after-marc-lore-alex-rodriguez-fail-to-close-sale/600354676/?clmob=y&c=n&clmob=y&c=n