Скачать или смотреть Marc Lore, Alex Rodriguez May Need Extension For Next Payment To Purchase Wolves

Marc Lore and Alex Rodriguez may need an extension for their last payment to become majority owners of the Minnesota Timberwolves. Glen Taylor revealed the circumstances of the unique payment plan during a podcast appearance.The incoming owners have until the end of December to exercise a call option, or state their intention to make their next payment and have the next 60 to 90 days to close, according to a lawsuit filing that outlines details of the unique layaway deal.“I think they’ll push back [the deadline],” Taylor said. “I ask them if they’re set and if they got everything and they say they do, so I take them for their word. It doesn’t make much difference to me if it’s December, March or July. I’m going to keep doing what I’m doing. We’re pretty well set for this year.”Lore and Rodriguez own 40 percent of the franchise after closing on the second payment. The third payment will push their interest to 80 percent, while the fourth option is due at the end of 2024. Taylor will retain a minority share in the team.“Right now, I’m expected to run the team, and I do,” Taylor said on the podcast. “I work with the coach, [general manager] Tim Connelly and the businesspeople. That’s my responsibility, since I still have most of the ownership. When [Lore and Rodriguez] get in a position to take over those responsibilities within the next year, then I’ll still be part of the ownership [group], but we’ll see how much I participate.”Taylor purchased the Wolves for $94 million in 1994 and agreed to sell the team to Lore and Rodriguez in 2021 for $1.5 billion. | Eric Jackson/Sportico

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