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Feb 11, 2025
The arbitration panel deliberating over the sale of the Minnesota Timberwolves and Lynx has ruled in favor of Alex Rodriguez and Marc Lore, a significant step toward the duo completing their acquisition of the NBA and WNBA franchises.
The three-person panel ruled that the pair did not violate the terms of their 2021 purchase agreement, which Taylor claimed when he called off the final two payments, and should be allowed to continue with the acquisition, according to a spokesperson for the Rodriguez and Lore group. The 2-1 decision comes following arbitration hearings that started at the beginning of November and continued into the new year.
The ruling likely clears the way for Rodriguez and Lore to continue with their purchase of the Timberwolves and Lynx. The pair owe Taylor about $942 million to acquire the roughly 60% stake still outstanding, and that money was put aside in escrow last year, Sportico reported in October.
Source: Sportico