Overview

• The dispute arose after Glen Taylor, the majority owner, ended a three-year succession plan, citing missed payment deadlines by Lore and Rodriguez for additional shares.
• Lore and Rodriguez claim they were entitled to a 90-day extension for NBA approval, which they had filed for by the March 27 deadline, but Taylor expressed seller's remorse due to the team's increased value.
• The mediation, set for May 1 in Minneapolis, is the first step in resolving the conflict over majority ownership, initially agreed upon in a phased deal starting in 2021.
• Despite the ownership unrest, the Timberwolves secured the No. 3 seed in the Western Conference playoffs, indicating strong performance under the current management.
• The NBA is considering rule changes to prevent similar disputes in future transactions, highlighting the significance of this mediation.