Current Majority Owner Refuses To Sign Agreement

Timberwolves Ownership Transfer Hits Snag

Current Majority Owner Refuses to Sign Agreement

The anticipated ownership transfer of the Minnesota Timberwolves has come to an abrupt halt, as current majority owner Glen Taylor has declined to sign the final agreement. The deal, which would have seen a group led by Marc Lore and Alex Rodriguez take control of the team, was expected to be completed by the end of 2021.

Reasons for the Delay

The exact reasons for Taylor's refusal to sign are unclear, but there are a few potential explanations. Some speculate that Taylor is seeking a more favorable financial arrangement, while others believe he may have concerns about the new ownership group's commitment to the team. It is also possible that Taylor is simply not ready to give up ownership of the Timberwolves after more than two decades.

Whatever the reasons, the delay in the ownership transfer has created uncertainty for the Timberwolves and their fans. The team's future is now in limbo, and it is unclear what will happen next.