Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Timberwolves dispute between Taylor and Lore, Rodriguez over ownership moves to mediation !

Timberwolves dispute between Taylor and Lore, Rodriguez over ownership moves to mediation

Time:2024-05-21 13:47:55 source:World Weave news portal

MINNEAPOLIS (AP) — The Minnesota Timberwolves ownership dispute is moving into mediation.

The first session toward determining whether Glen Taylor will remain controlling owner or cede to Marc Lore and Alex Rodriguez has been scheduled for May 1, according to a person with knowledge of the situation. The person spoke to The Associated Press on condition of anonymity Tuesday because the details were not being publicized. ESPN first reported the news.

The 82-year-old Taylor announced March 28 that he was exercising his right to pull out of the last part of the unusually structured deal because Lore and Rodriguez did not meet the deadline for the final payment — about $600 million — that was to transfer an additional 40% stake of the club.

Lore and Rodriguez vehemently disagreed. The pair said they were waiting on NBA approval for the paperwork they’d submitted by the March 27 deadline that entitled them, per the contract, to a 90-day extension. They accused Taylor of simply having seller’s remorse because the value of the Timberwolves has increased since the agreement, mirroring a continued spike in NBA revenues.

Related information
  • Pope trip to Luxembourg, Belgium confirmed for September, 2 weeks after challenging Asia visit
  • Shanghai real estate company faces $1.2 mln fines for multiple violations
  • Chinese FM meets Russian ambassador to China
  • 270 killed as deadly military conflict in Sudan rages into 4th day
  • Inquiry slams UK authorities for failures that killed thousands in infected blood scandal
  • Messi wins 2022 Best FIFA Men's Player Award
  • China calls for efforts to promote Colombia's national development
  • Xinhua Special: Fresh Look into President Xi's 2024 New Year Message
Recommended content
  • California congressman urges closer consultation with tribes on offshore wind
  • Ecuador embroiled in diplomatic backlash after police break into Mexican embassy
  • Juvenile murder case in North China shines spotlight on school bullying
  • Xi, Kim Jointly Designate 2024 as China
  • Yvette Fielding says her Most Haunted co
  • Xi Sends Condolences to Iranian President over Serious Terror Attacks