Glen Taylor told Sports Headliners this morning his Timberwolves and Lynx franchises are no longer for sale. The closing deadline for the final payment to gain controlling interest of the franchises by Marc Lore and Alex Rodriguez was March 27. “…That was yesterday and they didn’t get it done,” Taylor said.
Taylor also said the March 27 deadline was an extension of a previous date in late February for the Lore and Rodriguez group to pay the final amount of $600 million in the $1.5 billion deal. Taylor said there was no request to extend the March 27 deadline as part of a payment schedule that began with an agreement in 2021.
Taylor said Lore and Rodriguez own about 36 percent of the franchises. Will they continue as limited partners. “That’s my assumption,” Taylor said. “They certainly can and my assumption is they would want to.”
Asked about whether he is disappointed about the sale falling through, the 82-year-old Taylor answered: “No, I am not disappointed. I think that I’ve run the club in the past and I will in the future. We worked really hard to put this team (the Timberwolves) together and I am more apt to want to just continue it out for a longer period of time.”
Taylor, who has enjoyed owning both franchises for more than 25 years, frequently receives inquiries about selling his teams. He said he won’t be entertaining offers or seeking them in the foreseeable future.
The going price for NBA franchises is considerably more than the $1.5 billion that sparked an agreement in 2021. The Timberwolves, who might command $3 billion now, are 50-22 and having one of the best years in franchise history. Taylor is enthusiastic about the season and hoping for a deep playoff run.
It was reported earlier in the month that Lore and Rodriguez were positioned to make their final payment with the help of a private equity company. Did Taylor hear what happened with the investor? “No, I wasn’t involved in any of that.”
Asked if he expected any pushback or litigation regarding the failed transaction, Taylor said: “Just as a businessman I am always aware that’s always a possibility. I think that would be a legal matter.”
Taylor said he is open to communications with Lore and Rodriguez. “I certainly would talk to them if they want to talk. They are owners. They’re partners. Why wouldn’t I talk to them?”
Worth Noting
In reply to a Discovery request from Sports Headliners, the University of Minnesota said by electronic reply there is no preference at this time on whether to renovate Williams Arena or replace it. The U is in the early process of deciding what action to take with the facility that will be 100 years old in 2028.
Presumably renovation will be less expensive than a new arena. The Athletic Department already owes millions of dollars for loans on existing facilities including The Athletes Village and Huntington Bank Stadium. Renovating Williams Arena as the home for the men’s and women’s basketball teams could well be more attractive to the U than a new building. Keeping the old facility will also be popular with many ticket buyers who are nostalgic about the place affectionately referred to as “The Barn.”
Regardless of the decision, the prediction here is for a home with less than the current capacity of Williams Arena, 14,625. The last two seasons the men’s program has been averaging fewer than 10,000 fans per game. Fewer seats mean fewer tickets to sell and if there is demand to see the Gophers that puts pressure on buyers to purchase seats early including full season commitments.
Kali Engeman, a middle block from Excelsior, is transferring from Georgia Tech to play for the Gophers where she will have two seasons of eligibility. She is the granddaughter of Steve Lundeen, starting center on the last Gophers Big Ten championship team in 1967. “I’m, as you can imagine, over the moon happy,” Lundeen texted about Kali who will graduate a year early from Tech in May with her engineering degree.
This is a milestone time for broadcast icon Dave Lee, the former WCCO Radio morning drive time host who for years has been the play-by-play TV voice on Minnesota state tournament high school basketball games. It was 50 years ago that he broadcast his first play-by-play boys and girls games for KRAD Radio in East Grand Forks, Minnesota.
The Minnesota Football Coaches Association and its leadership continue to impress with their lineup of activities, programs and speakers for the MFCA Clinic April 4-6 at the DoubleTree Park Place in St. Louis Park and on the U campus. Vikings head coach Kevin O’Connell has been added to the lineup of powerhouse speakers that includes the Gophers’ P.J. Fleck and assistants, Iowa coach Kirk Ferentz and former Gophers defensive coordinator and now Wyoming head coach Jay Sawvel.
Four longtime sports executives with Minnesota ties have launched a company called Ignitor Partners that will provide marketing, communication, public relations, legal and sponsorship expertise to brands, sports properties, organizations and municipalities in Minnesota and other places. President Patrick Klinger said via email the company takes its name from his friend Paul Molitor who during his Hall of Fame baseball career was known as the Ignitor. Klinger’s three colleagues in the new endeavor are Scott E. Erickson, Bob Hagan and Bill Robertson.
Isaac Morton, the Texas A&M freshman pitcher from Spring Lake Park High School, is 1-0 with the Aggies. Morton, who was selected in the 19th round of the 2023 MLB Draft by the Brewers, has pitched 11.1 innings with a 2.38 ERA.
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