In a significant ruling, a three-person arbitration panel has sided with Marc Lore and Alex Rodriguez in their dispute with Glen Taylor over the sale of the Minnesota Timberwolves and Lynx. The panel’s decision allows Lore and Rodriguez to proceed with their acquisition of the teams, despite Taylor’s claim that they missed a $600 million payment deadline. The investors had already purchased about 36% of the team for over $500 million in two previous transactions. They have now raised an additional $950 million, placed it in escrow, and are ready to finalize the purchase. The sale, initially agreed upon in 2021 for $1.5 billion, now appears undervalued compared to recent NBA team sales, like the Phoenix Suns at $4 billion and the Dallas Mavericks at $3.5 billion. The final step requires approval from at least 23 of the NBA’s 30 team owners, a process that could be contentious given Taylor’s opposition. Meanwhile, Anthony Edwards scored 44 points, including eight 3-pointers, in a recent Timberwolves game, but the team still lost to the Cavaliers.
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