Marc Lore and Alex Rodriguez, after assuming majority ownership of the Minnesota Timberwolves, aimed to significantly reduce payroll, seeking to fall below the $172 million luxury tax threshold, as reported by ESPN’s Adrian Wojnarowski.
This move was in response to the projected $25 million tax payment for the team’s 2024-25 roster. However, the current governor, Glen Taylor, who initially agreed to the sale but later voided the contract, expressed reservations regarding these cost-cutting measures.
Despite the potential financial changes, the Timberwolves are experiencing one of their strongest seasons, currently tied with the Denver Nuggets for the top seed in the Western Conference at 55-24. This season marks the franchise’s first 50-win season in two decades, highlighting the team’s recent success under their current structure.
The proposed reduction in payroll to avoid the luxury tax could lead to the departure of key players like Karl-Anthony Towns or Rudy Gobert, who are set to earn around $93 million next season. Both players are centers, and their overlapping positions have been successfully integrated into the team’s strategy, even amidst a trend toward smaller lineups in basketball.
Glen Taylor, who has owned the Timberwolves since 1994, agreed to sell a majority stake to Lore and Rodriguez in 2021. However, an unconventional purchasing agreement led to tensions, with Taylor ultimately voiding the contract, citing alleged failure to meet terms. Lore and Rodriguez dispute this claim, suggesting Taylor may be experiencing seller’s remorse and are expected to contest his decision.
The ownership dispute adds uncertainty to the future of the Timberwolves, as Lore and Rodriguez, who currently own 36 percent of the team, were set to acquire an additional 40 percent before the deal collapsed. With Taylor’s recent statement declaring the team is no longer for sale, the resolution of this conflict remains unclear, potentially impacting the team’s long-term trajectory.
