The billionaire battle between Glen Taylor and the Alex Rodriguez-Marc Lore duo could be resolved by the end of the year. The sale of the Wolves and the Lynx will thus go before an arbitration commission. In early November, and for a week, the different parties will defend their point of view before an arbitration committee composed of three members. The latter will then have 30 days to render their verdict.
Mediation had already taken place in May without an agreement being able to be reached between the two camps, and this arbitration is therefore necessary to put an end to this dispute.
Michael Bloomberg Enters the Scene
As a reminder, Glen Taylor had cancelled the sale of the franchises on the pretext that the date of the last payment of 600 million dollars had not been respected.
The current owner of the Wolves had also highlighted his fear of budget cuts, and even a move, particularly to Las Vegas. Were these really the reasons for his backpedaling or had he simply realized that he had sold his franchise cheaply, at the very moment when the value of franchises exploded?
For a week in November, experts will study the case and decide on the sale of the franchise. We will then know if Glen Taylor remains the majority owner, or if the Lore-Rodriguez duo, now supported by Michael Bloomberg, can finally get their hands on the Wolves and the Lynx.
