Alex Rodriguez, Marc Lore Win Arbitration Case Over Taylor Amid T-Wolves Sale Dispute

Arbitrators ruled in favor of Marc Lore and Alex Rodriguez on Monday in their legal battle to become the majority ownership group of the Minnesota Timberwolves, according to Shams Charania of ESPN, though they still need to receive approval from the NBA's Board of Governors.
"We are extremely pleased with today's decision," Lore and Rodriguez said in a statement. "We look forward to working with the NBA to complete the approval process and close this transaction so that we can turn our attention to winning championships in Minnesota for our incredible fans and the Twin Cities community."
Taylor released his own statement after the ruling:
The arbitration case was to resolve Taylor's attempt to completely nix the sale of the Wolves and the WNBA's Minnesota Lynx after he said that Lore and Rodriguez failed to meet the deadline for payment.
As ESPN's Brian Windhorst outlined in November, the incoming ownership group agreed to make three payments to Taylor to complete the sale. The first two were made in 2022 and 2023, transferring a 36 percent ownership stake (worth around $600 million) to Lore and Rodriguez, with the third due by the end of March 2024 for another $600 million.
But Taylor said the pair missed the payment and sought to halt the sale of the team, though Lore and Rodriguez argued that they had the money but were delayed by the NBA's approval process, believing they should be granted an extension.
And thus, the situation went to arbitration.
While Lore and Rodriguez picked up a crucial win on Monday, they are not guaranteed to become the majority ownership group just yet. The NBA Board of Governors will still need to approve the ownership percentage transfer, with Lore and Rodriguez requiring 23 of 30 votes. While it would be "unprecedented" for the current NBA governors to reject the sale at this point, per Windhorst, it remains a possibility.
Lore and Rodriguez have been preparing for this moment, however. As Windhorst noted, the duo have added billionaires Michael Bloomberg and Eric Schmidt, alongside private equity firm Dyal Homecourt Partners, to their ownership group. In the process, they've raised "$950 million and have it in an escrow account and have made it clear in documents they plan to offer to buy out Taylor and his partners for the remaining 64 percent of the teams, sources said. Not just the additional 40 percent the disputed contract calls for."
Taylor could look to draw out the legal process, or the NBA Board of Governors could make the surprising decision to side against Lore and Rodriguez. For now, however, it appears likely that the majority ownership of the Wolves and Lynx will be changing hands.