The search for Marc Lore and Alex Rodríguez’s years to acquire the control of the Timberwolves of Minnesota finally seems to be in the domestic section, after the current owner Glen Taylor chose not to appeal the decision of an arbitration panel that he must continue with the sale of $ 1.5 billion.
A person with knowledge of Taylor’s decision confirmed it to The Associated Press on Wednesday, talking about anonymity because the Timberwolves had not offered any public comments. ESPN first reported the decision.
All that seems to stay is the final approval of the Board of Governors of the NBA, which is the last step before any sale of a team can be completed. In February, the NBA commissioner, Adam Silver, said he saw no reason why that did not happen, but also said that the Board would go through the complete process as always.
“We need to follow the process,” Silver said at that time.
The Board of Governors could vote at any time. He completed a two -day meeting in New York last week and would probably not meet again until summer, but it is possible that he does not need to wait until then to pay his final blessing.
Taylor, who turns 84 at the end of this month, grew on a Milkish farm in Minnesota and built a fortune with a business specialized in the printing of wedding invitations. He bought the Timberwolves for $ 88 million in 1994 to prevent the franchise from moving to New Orleans.
Four years ago, this month was approached by Lore, the former Chief of Electronic Commerce of Walmart, and Rodríguez, the former baseball toleter who connected 696 home runs for 22 seasons with the New York Yankees, the Seattle sailors and the Texas Rangers.
They quickly agreed an agreement of $ 1.5 billion, and NBA prices have been shot since then. Last month, the Boston Celtics were sold for an initial record valuation of $ 6.1 billion – A number that can be even higher before that agreement is closed.
During the contentious years, while the sale was essentially pending, Lore and Rodríguez accused Taylor of having the seller’s remorse in the midst of a constant increase in the value of the NBA franchises.
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AP NBA: https://apnews.com/hub/nba
