MINNEAPOLIS (AP) — The ownership transfer of the Minnesota Timberwolves must continue as originally planned, after a three-person arbitration panel ruled 2-1 that controlling owner Glen Taylor must cede control of the NBA club to partners Marc Lore and Alex Rodriguez in the disputed final phase of the $1.5 billion sale that was uniquely arranged nearly four years ago to give Lore and Rodriguez the majority stake.
The binding ruling issued Monday granted Lore, an e-commerce entrepreneur and investor, and Rodriguez, the former Major League Baseball star, a 90-day extension to finish the acquisition.
Leave a Reply