NBA Rumors: Alex Rodriguez, Marc Lore Eyed ‘Sizable’ Timberwolves Roster Paycuts
Tyler Conway@@jtylerconwayFeatured Columnist IVApril 10, 2024
Katelyn Mulcahy/Getty Images
Marc Lore and Alex Rodriguez reportedly wanted to make a “sizable” reduction in payroll after taking over as the majority owners of the Minnesota Timberwolves.
ESPN’s Adrian Wojnarowski reported Lore and Rodriguez wanted to duck under the $172 million luxury tax threshold. The Timberwolves are currently projected to have a $25 million tax payment for their 2024-25 roster.
Current governor Glen Taylor, who voided the contract that would have resulted in Lore and Rodriguez taking over the franchise, reportedly had “concerns” over the cost-cutting measures.
The Timberwolves are in the midst of one of their best seasons in franchise history. They are tied with the Denver Nuggets for the No. 1 seed in the Western Conference at 55-24, marking the franchise’s first 50-win season in two decades.
Reducing payroll to duck the luxury tax would likely result in the departure of Karl-Anthony Towns or Rudy Gobert, who will make roughly $93 million next season. Towns and Gobert have positional overlap given they’re both natural centers, but Minnesota has made the Twin Towers duo work in an era of increasingly downsized basketball.
Taylor has been the Timberwolves’ majority owner since 1994. A lifelong Minnesota native, Taylor agreed to sell a majority stake in the franchise to Lore and Rodriguez in 2021.
The duo entered into an unusual purchasing agreement that would see them buy the team in increments. They currently own 36 percent of the team and were set to finalize the takeover by buying an additional 40 percent, but Taylor said Lore and Rodriguez failed to meet terms of the agreement. Taylor released a statement late last month saying he had voided the purchasing agreement and the team was no longer for sale.
Lore and Rodriguez contend they met all terms and Taylor is having a case of seller’s remorse. They are expected to challenge Taylor’s stance.
