The attempt by tech billionaire entrepreneur Marc Lore and former baseball star-turned-businessman Alex Rodriguez to acquire controlling ownership of the Minnesota Timberwolves and WNBA counterpart Minnesota Lynx from Glen Taylor will likely be settled by lawyers and potentially a judge.
Lore and Rodriguez were expected to make their third and final installment of a $1.5 billion payment to Taylor for the teams by March 27, giving them 80% ownership of the franchises. The next day, Taylor said in a statement that the option allowing the acquisition had expired.
Lore and Rodriguez said they secured the necessary funding for the deal and submitted the paperwork to the NBA on time.