Alex Rodriguez, Marc Lore not giving up after Timberwolves sale falls through: ‘It is now personal’
Former MLB star Alex Rodriguez and business partner Marc Lore aren’t finished just yet.
After the sale of the Minnesota Timberwolves and Minnesota Lynx fell through earlier this week, the pair are committed to landing the franchises no matter how long it takes.
“It is now personal,” Rodriguez said Friday, via The Athletic. “We can be in this [fight] for years, 10 years, whatever. We’re not going to let go.”
“We will use every ounce of effort here to enforce the contract that Glen [Taylor] broke,” Lore added. “So that means time, capital, whatever means necessary.”
T-Wolves, Lynx ‘no longer for sale’
Timberwolves and Lynx owner Glen Taylor announced suddenly this week that, after years of negotiations and partial acquisitions, the two teams are no longer for sale and he is keeping controlling interest of the franchises.
Lore and Rodriguez currently own 40% of the teams after agreeing to purchase them for $1.5 billion in 2021. They purchased a 20% stake right away and had three future options in the deal that would give them full control of the teams in subsequent years. They had 90 days to complete the final step of the sale of 40% of the team after informing Taylor in December that they were going to increase their stake to 80%, which would have given them controlling ownership.
Instead, Taylor claimed they missed a deadline.
“I don’t need the money, so I think I’ll just keep running it and enjoy it,” Taylor said.
Taylor’s announcement Wednesday was described by Rodriguez and Lore as a “nuclear bomb” that took them completely by surprise. They thought they had fulfilled the obligations of their contract with Taylor to purchase another 40% of the teams.
The duo think Taylor is opting to back out now because the value of the Timberwolves has gone up significantly in recent years as the team has gotten better. They currently sit second in the Western Conference standings. By comparison, the Phoenix Suns were sold for about $4 billion in 2022.
“It’s just bad faith that you have a deal and a contract, and then because you’re able to get more money, you just decide I don’t want the contract anymore,” Lore said, via the Minneapolis Star Tribune. “That’s just bad faith. It’s not being a good person, a good partner, a good human. You just don’t do that. It’s sort of like honor. It’s honor a little bit. You made a deal and then you honor it because you have integrity.”
Lore and Rodriguez said they were told they can’t come to the Target Center, the home arena of both teams, access team facilities or communicate with players or team staff anymore, though Taylor denied that and simply called them “limited partners.”
“It feels very much like a slap in the face and much more personal than even just about the money,” Lore said, via The Athletic.
Based on how long the sale has taken to complete and how quickly it fell apart, it’s not likely this feud is going to be resolved quickly. Both Lore and Rodriguez say they are committed for the long haul, whatever it takes.
“We’re going to own this team for the next 50 years, at least,” Lore said, via the Star Tribune. “We got a long road ahead of us, and we’re going to fight it with all means possible. We’re not giving up.”