Alex Rodriguez, Marc Lore Timberwolves ownership bid gets hit with big mediation update

There’s a big development in the ongoing saga of who will own the Minnesota Timberwolves basketball organization. A mediation session date has been set between the parties involved in the ownership struggle, per ESPN. The mediation date is May 1.

Timberwolves ownership conflict

The Timberwolves and Minnesota Lynx WNBA team are up for sale, by long-time majority owner Glen Taylor. The team looked to be sold to a group spearheaded by former MLB player Alex Rodriguez, and businessman Marc Lore. Rodriguez and Lore had to go through some hoops in order to show they were credibly able to purchase the team. This included payments that had to be made to Taylor and his partners by certain deadlines.

Taylor is arguing the Rodriguez-Lore group didn’t abide by those payments on time. Rodriguez and Lore say they did exactly what they were supposed to, and that is why the deal has hit this huge snag. Taylor moved to end the ownership transition, and the Rodriguez-Lore group is filing a grievance.

“What I anticipate doing — if I can work everything out the way I’m planning on it — is I’ll just continue to keep the ownership,” Taylor said Thursday, per Minneapolis Fox 9 News. “I’ll have the controlling ownership and just keep on running. We have a plan that upon my death we have a plan of what will happen, but they’ll stay in Minnesota and they’ll be controlled by my family.”

Rodriguez and Lore clearly don’t agree with that position. The May 1 mediation is the first step in a process of smoothing out the disagreement, which may or may not end with Rodriguez and Lore coming to own the teams. The Rodriguez-Lore group paid two initial payments to Taylor and his partners, per ESPN.

Timberwolves season