Alex Rodriguez, Marc Lore is set to download Timbervolve’s after conquering an arbitration case

Alex Rodriguez and Marc Lore will become the next majority owners Minnesota Timbervolves Finally.

The transfer of ownership must continue as originally planned after the current wood owner of Glen Taylor stopped the final part of the sale in 2024. years. The three-member arbitration panel concluded that Taylor had no power to cancel the final 40% sales of $ 1.5 billion in Rodriguez and Lore, which was uniquely decorated in 2022. Years.

Lore and Rodriguez, the former baseball star, announced a joint statement announced that their time line for the approval of the league was completing the acquisition, because Taylor claimed when the sale was stopped by the sale several years ago.

“We are extremely satisfied with today’s decision,” Lora said and Rodriguez in the statement, Over Minnesota Tribune. “We look forward to working from the NBA to complete the approval process and closed this transaction to draw attention to Minnesota winning championship for our amazing fans and twin communities.”

The transaction is subject to the approval of the League Governor Committee, with at least 23 of the 30 team owners who need to vote. Taylor, who grew up on the Milesota’s dairy farm and built a wealth in the business of nominal wedding, bought Timbervolves for $ 88 million in 1994. years in order to prevent franchising from New Orleans.

Taylor announced that in March 2024. He made a final payment from the agreement, because Lora and Rodriguez did not send a final payment within the purchase of his third part of the club to reach about 80% of the stake – including about 30% of funded by their investors – and become the control owners of Timbervolves and VNBA’s Minnesote Link. Taylor also said they missed other deadlines that led the transfer process.

Lore and Rodriguez were blinded by the decision and defended the integrity, accusing Tail’s removal of the seller in the middle of constant growth of the value of the NBA franchise and successful season 2023-24 for many years of time season. They blamed the delay in the delivery of final 40% of the payment at the dispute of the League approval process and said they submitted paperwork in the league last March 21. Marta, just six days before the deadline.

Rodriguez is employed in Fox Sports.

The associated press has contributed to this report.

You want great stories to be delivered right to your received mail? Create or login to your Sports Account Fox, follow the leagues, teams and players to get a personalized newsletter daily.

Get more than a national basketball association Follow your favorites to get information about games, news and more