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[Saba Sports News] Glen Taylor has made a surprising announcement, revealing that he has withdrawn the Minnesota Timberwolves from sale, which may be linked to the team’s recent success. Taylor stated that the option for Alex Rodriguez and Marc Lore to acquire controlling interests in both the Timberwolves and the WNBA’s Minnesota Lynx has lapsed, citing the expiration of the 90-day period for Rodriguez and Lore to finalize the deal.
In response, Rodriguez and Lore expressed their disappointment, asserting that they had fulfilled all obligations and attributing Taylor’s decision to “seller’s remorse.” According to insights from Ryan Glasspiegel of the New York Post, Taylor reportedly developed “cold feet” due to the Timberwolves’ emergence as championship contenders, notably fueled by the presence of standout player Anthony Edwards. Additionally, Taylor believes the team’s value has significantly risen since the agreement with Rodriguez and Lore in 2021.
Despite the Timberwolves boasting an impressive record of 50-22 and being in contention for the top spot in the Western Conference, Taylor, who has owned the team since 1994, opted out of the sale. The agreement with Rodriguez and Lore involved a $1.5 billion purchase price, paid in three installments, with Rodriguez and Lore having already acquired a 40 percent stake.
While Rodriguez and Lore had to secure a new financial backer for the final payment after their initial investor backed out, Taylor’s decision suggests a potential legal dispute on the horizon. As it stands, Taylor remains in control of the Timberwolves.