The Minnesota Timberwolves ownership dispute has progressed beyond the hearings stage, with a three-member arbitration panel now moving into deliberations.
This decision-making phase could span several months as the panel reviews evidence and arguments from both sides before issuing a ruling.
The conflict began when current Wolves owner Glen Taylor halted the sale of the franchise to an investor group led by Marc Lore and Alex Rodriguez at the end of March.
Taylor’s side claims that the Lore/Rodriguez group missed a key deadline for making the final payments, a requirement that would have allowed them to assume an 80% stake in the Timberwolves, a majority position in the organization.
On the other hand, Lore and Rodriguez assert that they did meet the deadline, arguing that their timely submission of paperwork should have automatically triggered a 90-day extension of the purchase agreement.
Both parties met in May to attempt mediation, hoping to reach a mutual understanding, but were ultimately unable to resolve their differences.
With no resolution in sight, the dispute moved to arbitration, where the panel will now carefully weigh the evidence and arguments presented.
This decision could have significant implications not only for the future ownership of the Timberwolves but also for potential governance changes within the NBA regarding franchise sales.
Timberwolves Ownership Arbitration Heads To Deliberation Phase https://t.co/JPu15ZIihe
— RealGM (@RealGM) November 12, 2024
