Timberwolves minority owner files complaint against sale to Marc Lore and Alex Rodriguez per report

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Timberwolves minority owner files complaint against sale to Marc Lore and Alex Rodriguez per report

It appears as though the sale of the and Lynx may have hit a snag Wednesday, as the second-largest shareholder of both teams, Meyer Orbach, has filed a complaint stating that Carlos Gomez Jersey the transaction is in violation of his partnership with Taylor and the rest of the current shareholders, Via ESPN:"The complaint cites Taylor's failure to honor the Michael Conforto Jersey "tag along rights" for minority investors in the franchise, which allows them to sell their interests in the teams before Taylor sells his own."The sale of the Timberwolves is expected to be completed on July 1, but it still needs to be approved by the Board of Governors. In addition Robinson Cano Jersey to the complaint regarding the "tag along rights," the document also highlights something that Taylor a sured wouldn't happen: the po sible relocation of the franchise out of Minneapolis. Taylor has said publicly that any sale of the Timberwolves would have to hinge on the fact that the new ownership wouldn't move the team out of the city. However, an exhibit in the complaint paints a different picture.Despite Taylor previously saying that there would be language in the deal that would , there reportedly isn't any language of that kind in the document. Instead, it says Jose Bautista Jersey the new ownership group would have to "present to Asdrubal Cabrera Jersey the Advisory Board for discu sion" on any plan that would involve relocating the team. But at the end of the day, the advisory board would not have to give its approval on the matter. Lore and Rodriguez , and will buy the teams in installments first before taking complete control of the franchises in 2023.
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