The Timberwolves open their regular season schedule tonight against the Lakers in Los Angeles with ownership of the franchise expected to be resolved in the next few months. A source with extensive pro sports ownership experience, speaking on condition that his name not be published, predicted current owner Glen Taylor will retain control of the Wolves and Lynx after the early 2025 resolution—but that may not be true a year from now.
Taylor is in litigation with potential majority owners Marc Lore and Alex Rodriguez. The dispute is about whether Lore and Rodriquez met the obligations of a drawn-out sales process that began in 2021. A three-person arbitration panel (based in Minnesota) is expected to rule on the majority ownership in November.
Even if the panel rules in favor of Lore and Rodriguez, there will need to be a sale approval by the NBA. There are two reasons why the source believes the league will favor Taylor’s continued control of the NBA and WNBA franchises.
One is the familiarity and relationships NBA’s owners have with Taylor. He has owned the Wolves since 1994 when he bought the franchise for a reported $88 million. He founded the Lynx in 1999. Taylor has served on the league’s Board of Governors and knows commissioner Adam Silver well. The Wolves and Lynx have been stable franchises financially over the decades, while questions have been raised about the financial wherewithal of Lore and Rodriguez who in June reportedly reached agreement with billionaire Michael Bloomberg to join their group.
The second factor, seemingly in Taylor’s favor, is the litigation involves the original agreed upon sale price of $1.5 billion. Since the time that figure was decided, the value of NBA franchises has more than doubled. League owners don’t want to set a precedent of below market value for franchises, knowing that impacts their businesses.
Taylor, 83, has been showing interest for years in moving on from ownership. “I can see him (eventually) selling 50 percent of the franchise to Bloomberg,” the source said.
In that scenario the sale amount would be a market price well over $3 billion for the two franchises. Bloomberg becomes the majority owner at say a controlling 51 percent, while Lore and Rodriguez could keep what’s believed to be their present 36 percent or they might be bought out at a considerable profit. Taylor might want and accept five or 10 percent ownership, joining other small owners who have been part of his group in the past.
Worth Noting
The Timberwolves finalized their 17-man roster late yesterday with the most notable change from a year ago the absence of forward-center Karl-Anthony Towns who had played with the club for nine seasons. The youngest player on the roster is 19-year-old first round rookie guard Rob Dillingham. The oldest Wolves are guard Mike Conley and forward Joe Ingles, both 37.
Towns, traded this fall to the Knicks, will play for his new team tonight against the World Champion Celtics. The game is part of a nationally televised doubleheader on TNT that also includes the Wolves-Lakers game. With forward Julius Randle and guard Donte DiVincenzo, the two former Knicks debuting for the Wolves, the doubleheader will be a focus of national interest.
The Wolves are title contenders along with multiple other teams including the Thunder whose star players include Minneapolis native Chet Holmgren. The 7-foot-1 power forward-center averaged 16.5 points and 7.9 rebounds last season, his first in the NBA. Holmgren, 22, could one day join a short list of native Minnesotans who played for the U.S. Olympic men’s basketball team.
Burdette Haldorson, an Austin, Minnesota native, played collegiately at Colorado and was a member of the 1956 and 1960 gold medal winning American basketball teams.
Lou Nanne, who had successful back surgery in July, is ready to resume playing golf in Florida, his second home. He’s had two holes-in-one over the years, with the most recent last year in the sunshine state.
The Minnesota hockey icon, long respected in the local business community, told Sports Headliners he has no interest, or the intention of being part of a group to buy the Twins.
Nanne predicts a healthy Wild team will make the playoffs. “Love what (Filip) Gustavsson is doing,” he said about the Wild’s hot goalie who has helped the team to a 3-0-2 season start.
The Wild plays at the Panthers tonight, facing a team Minnesota swept in two games last season. Florida, the defending Stanley Cup champs, is Nanne’s pick to win the NHL again.
Kevin Sumlin is on the staff of the Maryland football team that plays the Golden Gophers in Minneapolis Saturday afternoon. The former Gopher assistant coach and head coach at Texas A & M and Arizona is associate head coach to Mike Locksley.
Minnesota, 4-3, is about a four-point favorite against the Terps who have the same record. This could be the last time the Gophers are favored in their remaining games, with matchups against Illinois, Rutgers, Penn State and Wisconsin remaining.
With membership in the University of Minnesota Alumni Association, alumni can save 25 percent on tickets for the Homecoming game against the Terps.
It wouldn’t be surprising if during the offseason the Gophers landed a center transfer in the portal allowing talented sophomore Greg Johnson from Prior Lake to switch back to guard where he played as a true freshman.
Happy 81st birthday today to Minnesota sports icon Dick Jonckowski! His many honors include going into the Minnesota Amateur Baseball Hall of Fame last month.
On Thursday Harvey Mackay, the longtime Gophers and University of Minnesota supporter, celebrates his 92nd birthday. Former Gophers football coach Lou Holtz writes the foreword in Mackay’s new book, You Haven’t Hit Your Peak Yet!
A communicator and motivator extraordinaire, Mackay is a leading inspirational speaker, syndicated newspaper columnist and seven-times New York Times best-selling author. Among his treasured experiences was playing golf at the U for legendary coach Les Bolstad.
A focus for the Vikings Thursday night in Los Angeles will be stopping Rams running back Kyren Williams. He has a rushing touchdown in nine consecutive games including two on Sunday in a 20-15 win over the Raiders.
In their win over the Vikings last Sunday, the Lions took advantage of missing linebacker Blake Cashman who was out with a toe injury. The Vikings need his tackling and steady presence in the middle of the field against the Rams and future opponents. His availability for Thursday night hasn’t been announced.
The 2-4 Rams and 5-1 Vikings are likely to see the return of star receivers who have been out with injuries—wide receiver Cooper Kupp for Los Angeles and tight end T.J. Hockenson for Minnesota.
The game will be televised nationally by Prime and seen locally on Fox 9.
Vikings superstar wide receiver Justin Jefferson has 6,430 receiving yards since entering the NFL in 2020. He is chasing the league’s all-time leaders through five seasons. Only Terry Holt with 6,784 yards and former Viking Randy Moss, at 6,473, had more receiving yards in their first five seasons.