During their failed process to assume majority ownership of the Minnesota Timberwolves, Marc Lore and Alex Rodriguez submitted financial projections forecasting a sizable retreat in roster payroll that majority owner Glen Taylor believed would jeopardize the team's ability to contend.
In documents shared with Taylor, the NBA and The Carlyle Group, a private equity firm, Lore and Rodriguez rendered a budget projection as potential majority owners that would've lowered the Timberwolves' payroll to $171 million beginning next season -- below the projected $172 million luxury tax threshold, sources told ESPN. The Timberwolves would've gone from approximately a $25 million-plus tax payment to a team receiving a tax distribution of approximately $6.5 million.
Taylor voided a contract that would have finalized the sale of the Wolves with the claim Lore and Rodriguez failed to meet deadlines.
Their payroll will place them $27 million over the luxury tax and would exceed the second apron once free agency begins in July. As owner, Taylor has paid the luxury tax in four different seasons, including most recently in 2019-20. H
