While earlier reports have stated that the sale of the Minnesota Timberwolves franchise to the group of baseball legend Alex Rodriguez has already been finalized, it looks like the deal has now hit a major wall.
ESPN NBA insider Adrian Wojnarowski reports that minority team owner Meyer Orbach has filed an official complaint against current owner Glen Taylor in the U.S. District Court in Minneapolis for allegedly violating the franchise's partnership agreement:
The complaint cites Taylor's failure to honor the “tag along rights” for minority investors in the franchise, which allows them to sell their interests in the teams before Taylor sells his own.
Orbach's complaint also touched on a significant aspect of the proposed deal. As it turns out, Taylor allegedly chose not to include a clause in the pending sale pertaining to the new owners' having to keep the franchise in Minnesota. Taylor previously said that this was one of the most important aspects of the deal, virtually guaranteeing that the Timberwolves will remain in Minnesota. However, if Orbach's allegations are true, then there would be no binding clause that would prevent Rodriguez and Co. from moving the franchise to another city once the purchase becomes official.
For his part, Taylor has yet to comment on this recent development, but knowing how outspoken the 80-year-old billionaire has been on this matter, it would not be surprising if he fires back at Orbach sooner rather than later.
According to the report, the sale of the Timberwolves franchise will not be finalized until the NBA's Board of Governors green light the transaction via a vote.
Follow Us
Subscribe