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For the past few months, it seemed like total control of the Minnesota Timberwolves would change hands. An Alex Rodriguez-led group appeared to be on the verge of acquiring the NBA team, but mixed versions of why the deal didn't go through have emerged in recent weeks, and now the transaction will not happen.
Current majority owner Glen Taylor stated that the Rodriguez and Marc Lore group had missed a payment, therefore the deal could not continue.
In response, Rodriguez denied that was true, stating that he kept his end of the bargain by fulfilling Taylor's requirements. After both sides couldn't reach an agreement, Taylor continues his control of the team, and it became obvious that he was not going to do what Rodriguez and his group wanted.
Money was the issue, but not involving the direct transaction
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According to reports, the initial disagreement between the two sides started when Alex Rodriguez brought Tim Connelly in as their basketball operations leader, a role that commanded a considerable salary.
The deal was $8 million per year over a 5-year span with incentives, and Taylor didn't like it; Connelly was hired, but the incentives were removed from the deal, creating fractures between him, Taylor, Rodriguez, and Lore.
Taylor also acquired a higher percentage of ownership stakes from other and regained control of the organization, raising the question of whether he really wanted to sell in the first place.
With Alex Rodriguez and friends still interested in buying the team, the two parties are likely heading into some kind of litigation. Interestingly enough, the Connelly hiring has helped build one of the most solid squads in the Western Conference.