A-Rod, Lore Considering Wolves Payroll Cuts, Taylor Concerned

In a complex saga surrounding the potential majority ownership transition of the Minnesota Timberwolves, sources disclosed to ESPN that minority partners Marc Lore and Alex Rodriguez, in their bid to take over the franchise, presented financial forecasts to majority owner Glen Taylor. These projections outlined a significant reduction in the team's roster payroll, a move Taylor perceived as endangering the organization's competitiveness in vying for an NBA championship.

According to insider information, Lore and Rodriguez shared budgetary estimates with Taylor, the NBA, and The Carlyle Group, indicating a proposal that would have slashed the Timberwolves' payroll to $171 million starting the upcoming season. This figure notably fell beneath the anticipated luxury tax threshold of $172 million, potentially shifting the team's tax burden from a payment exceeding $25 million to a projected receipt of about $6.5 million.

Despite the Timberwolves' recent ascent to the top seed in the Western Conference after years of struggles, concerns over the financial strategy proposed by Lore and Rodriguez prompted Taylor to void the agreement for the sale of both the Timberwolves and the WNBA's Minnesota Lynx. Notably, representatives for both parties declined to comment on the matter, citing a memo from the NBA instructing them to refrain from public discussion regarding the dispute.


At a recent NBA Board of Governors meeting, Commissioner Adam Silver emphasized that the league had no involvement in the ownership dispute and highlighted the existence of a mediation plan outlined in the original sale agreement to address such scenarios.

Taylor's decision marks the culmination of a protracted three-year process that would have culminated in Lore and Rodriguez assuming majority ownership this spring. Currently, the Timberwolves are poised to possess the league's fourth-highest payroll for the 2024-25 season, amounting to $198 million, which includes three players under maximum contracts. The significant proposed reduction in payroll poses challenges in maintaining a competitive roster, particularly without trading key players.

Taylor's willingness to pay the luxury tax in previous seasons contrasts with the financial approach suggested by Lore and Rodriguez, who had yet to finalize the purchase despite initial payments toward acquiring a significant ownership stake. Despite their intentions, the Lore-Rodriguez group failed to transfer the remaining funds by the specified deadline, leading to the nullification of the contract amid disputes over NBA approval processes and financial logistics.

Source ESPN : Sources: A-Rod, Lore eyed Wolves payroll cuts, concerning Taylor
Source ABC : Sources: A-Rod, Lore eyed Wolves payroll cuts, concerning Taylor