Sued by partner over sale, Taylor says T-wolves won’t move
MINNEAPOLIS – Minnesota Timberwolves owner Glen Taylor is expressing confidence the NBA team will remain in Minnesota under new ownership.
One of his investors has sued Taylor in federal court, alleging breach of contract because of the sale. Taylor also owns the WNBA’s Minnesota Lynx.
Taylor recently finalized an agreement to sell the basketball clubs to e-commerce mogul Marc Lore and former baseball star Alex Rodriguez for $1.5 billion.
Taylor is being sued by minority partner Meyer Orbach, who currently owns about 17% of the teams. Orbach contends Taylor is denying his right to sell his stake to the prospective new owners.