Timberwolves set to get answer on ownership dispute next season

Many Minnesota Timberwolves fans are aware of the franchise's current ownership dispute that has been ongoing for several months. The current situation with ownership began back in April 2021, when former Major League Baseball legend Alex Rodriguez and his business partner Marc Lore made an agreement with longtime majority owner Glen Taylor to buy the team for $1.5 billion.

Taylor, a businessman and former politician, had agreed to a deal wherein Rodriguez and Lore would assume majority ownership incrementally, over a period of three years. In the meantime, A-Rod and partners from his business venture had poured plenty of time and effort into the Timberwolves, taking part in team activities and showing beyond a shadow of a doubt that they were taking the role seriously.

But Rodriguez's efforts were halted on March 27 of this year, when Glen Taylor announced that the Timberwolves and Lynx would no longer be for sale, claiming payment deadlines were missed. Rodriguez and Lore disagreed, alleging that they had committed the necessary financing.

Timberwolves ownership arbitration hearing set for November

A-Rod and Lore believe Taylor intentionally backed out of their agreement following a shift in the team's value. At the time of Glen's announcement in March, the Timberwolves were valued at close to $3 billion, which is of course far higher than the $1.5 billion number he had initially agreed to sell the team at.

This leads us to now, where an arbitration hearing to resolve the dispute has officially been set for this coming November. After the start of the 2024-25 NBA season, a three-member arbitration panel will come together to present differing viewpoints before the panel ultimately decides an outcome.

The presentations from each side are required to take place in Minneapolis, and must finish before six months are up. When this entire process concludes, Taylor will either retain ownership if he wins, or be forced to sell upon losing. The result of the hearing could have major implications for the Timberwolves franchise going forward.