Timberwolves Ownership Arbitration Heads To Deliberation Phase

11/12/2024 08:27 AM

The Minnesota Timberwolves ownership dispute has finished the hearings phase. Now the three-person panel has headed into deliberations that could take a few months before completing.

Current Wolves owner Glen Taylor called off the sale of the team to a group led by Marc Lore and Alex Rodriguez at the end of March. Taylor's side of the dispute says that the Lore/Rodriguez group missed a deadline to make the final payments, which would have seen them assume 80% ownership of the Timberwolves.

Lore and Rodriguez contend that they met the deadline to submit paperwork which should have extended the purchase agreement for an additional 90 days. The two met in May for mediation but could not reach an agreement. That ultimately led to the arbitration process.