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Lore, A-Rod Dispute Taylor’s Claim To Wolves Ownership

March 28th, 2024 at 1:02pm CST by Rory Maher

On Thursday morning, Timberwolves owner Glen Taylor announced that he will retain his majority stake in the franchise after the final purchase option held by minority owners Marc Lore and Alex Rodriguez expired on Wednesday.

That would leave Taylor with about a 60% stake in the Wolves and WNBA’s Lynx, with Lore and Rodriguez controlling approximately 40%. The final option would have seen Lore and Rodriguez become the majority owners with an 80% stake, while Taylor would have retained 20%.

In Taylor’s press release, he also said the Wolves and Lynx are no longer for sale.

However, in their own statement this afternoon, Lore and Rodriguez disputed Taylor’s claim to ownership, and they believe they should — and will — become majority owners, per Jon Krawczynski of The Athletic (Twitter link).

“We are disappointed with Glen Taylor’s public statement today. We have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process.

“Glen Taylor’s statement is an unfortunate case of seller’s remorse that is short sighted and disruptive to the team and the fans during a historic winning season.”

Sources tell ESPN’s Adrian Wojnarowski (Twitter link) that the relationship between Taylor and Lore and Rodriguez has “disintegrated over the past two-plus years.” That reporting certainly seems to align with today’s contentious news.

As Krawczynski writes in a full story for The Athletic, the next steps aren’t immediately clear. A week ago, Lore and Rodriguez submitted the financial documentation they believed was necessary to complete the purchase. But Taylor says the duo failed to reach several key benchmarks in the purchase agreement.

According to Krawcyznski, the purchase agreement calls for third-party mediation and arbitration to resolve disputes like the one currently unfolding. Whatever happens next, it doesn’t seem like the situation will be resolved anytime soon.

There’s no indication the dispute has disrupted Minnesota’s play on the court — the Wolves are in the midst of their first 50-win season in two decades. The timing is certainly unfortunate though, with only 10 regular season games remaining before the playoffs get underway next month.

Since 2021, Lore and Rodriguez have been involved in the purchase of the Wolves for $1.5 billion on a multi-phase payment plan. They were reportedly instrumental in recruiting president of basketball operations Tim Connelly away from the Nuggets in 2022.

Glen Taylor Announces He’ll Retain Majority Stake In Timberwolves

March 28th, 2024 at 10:10am CST by Dana Gauruder

Glen Taylor says he will remain the majority owner of the Timberwolves as well as the WNBA’s Lynx, the team announced in a press release.

Taylor confirmed the expiration of the option of Marc Lore and former baseball star Alex Rodriguez to purchase controlling interest in the team. Under terms of the purchase agreement, the closing was required to occur within 90 days following the exercise notice issued by Lore and Rodriguez. That 90-day period expired on Wednesday, according to the statement.

Under certain circumstances, the buyer could have been entitled to a limited extension. However, those circumstances did not occur, the statement adds.

Taylor will retain approximately 60% of the franchises, while Lore and Rodriguez will hold an approximate 40% stake.

“I will continue to work with Marc, Alex and the rest of the ownership group to ensure our teams have the necessary resources to compete at the highest levels on and off the court,” Taylor said in the statement. “The Timberwolves and Lynx are no longer for sale.”

Last week, Lore and Rodriguez reportedly had found new financial backing to complete the purchase. A previous report indicated that the sale proceedings were disrupted when the Carlyle Group chose to withdraw. Lore and Rodriguez were supposedly able to replace the firm with Dyal Capital Partners but apparently that was not enough to close the sale by the March 27 deadline.

Since 2021, Lore and Rodriguez have been involved in the purchase of the Wolves for $1.5 billion on a multi-phase payment plan. They have made two payments so far — giving them a 20% stake each time, for a total of 40%.

They exercised their option in December for the final 40% of the purchase. That began a 90-day window to submit the required documents and commitment letters to finalize the deal.

Hornets’ LaMelo Ball Won’t Return This Season

March 28th, 2024 at 9:27am CST by Dana Gauruder

Hornets star guard LaMelo Ball will miss the remainder of the season as he continues to rehab from right ankle surgery, the team’s PR department tweets.

It comes as no surprise that the team is shutting down its star player. The Hornets have the Eastern Conference’s third-worst record at 18-54.

Ball signed a five-year, maximum-salary extension last July. However, his young career has been sidetracked by injuries. He appeared in 51 games in his rookie season and 75 in his sophomore campaign. A wrist injury limited his rookie season.

Last season, he was only able to suit up for 36 games. His season was cut short by a fractured right ankle that required surgery.

This season, he appeared in just 22 games, averaging 23.9 points, 5.1 rebounds and 8.0 assists. He hasn’t played since Jan. 26 after the ankle flared up again.

Earlier this month, Ball was believed to be on track to return to action this season. That obviously never materialized. The team initially described his injury as right ankle soreness and later diagnosed it as ankle tendinopathy.

Optimism Joel Embiid Can Return In Regular Season

March 27th, 2024 at 10:40pm CST by Rory Maher

Speaking to reporters before Wednesday’s game vs. the Clippers, Sixers head coach Nick Nurse said he was optimistic about the odds of Joel Embiid returning before the 2023/24 regular season ends.

“I think there’s a very good likelihood that he will return before the play-in, playoff,” Nurse said, per Tim Bontemps of ESPN.

As Bontemps writes, Philadelphia is currently the No. 8 seed in the East and is fighting to avoid the play-in tournament. The team has gone just 10-17 since Embiid sustained a torn lateral meniscus in his left knee in late January, an injury that required surgery.

Nurse said while there’s no official timeline for Embiid’s return, the Cameroonian big man continues to do on-court work.

Following up on Nurse’s comments, ESPN’s Adrian Wojnarowski reported on NBA Countdown that Embiid will likely be back in action within the next couple weeks (Twitter video link).

“I’m told it’s not a question of if, but when,” Wojnarowski said. “And the belief is with nine regular season games left after tonight against the Clippers, that Joel Embiid can be back for a handful of those.

“… There’s a lot of optimism right now around Joel Embiid. I’m told that he is moving well — he has looked good on the court.”

Philadelphia will have five games remaining on April 6 and four left on April 7 for a road back-to-back in Memphis and San Antonio. The Sixers will return home for the final three games of the season, starting with an April 9 contest vs. Detroit. If Wojnarowski’s projection is accurate, it’s possible Embiid could return at any point during that time frame.

Embiid was the frontrunner for his season straight MVP award prior to the injury, averaging 35.3 PPG, 11.3 RPG, 5.7 APG, 1.1 SPG and 1.8 BPG in 34 games (34.0 MPG).

Wizards To Remain In D.C., Virginia Talks Dead

March 27th, 2024 at 5:40pm CST by Rory Maher

5:40pm: Monumental Sports confirmed in a press release that it has reached an agreement with the District of Columbia to keep the Wizards and Capitals in their current home downtown.

“I look at outcomes, not process, and we got to the right outcome,” said Leonsis. “I know this was a difficult process and I want people to understand how much I love Washington D.C. and how much I’ve always loved Washington D.C.”

5:34pm: In December, Monumental Sports, the Ted Leonsis-led company that owns the Wizards, announced a plan to move from the District of Columbia to Alexandria, Virginia.

However, the plan never seemed to gain any traction in the Virginia legislature, and it faced opposition from powerful labor unions in the area. A couple weeks ago, the deal was said to be on life support after the proposal to build a new arena and “entertainment district” was removed from the state’s 2024 budget.

On Wednesday, the city of Alexandria announced in a press release that it has ended negotiations on the deal that would have moved the Wizards and NHL’s Washington Capitals to the Potomac Yard area.

According to Jonathan O’Connell, Teo Armus, Gregory S. Schneider and Michael Brice-Saddler of The Washington Post, Leonsis and D.C. Mayor Muriel Bowser said Wednesday they were finalizing a deal that would keep the Wizards and Capitals in Capital One Arena until 2050, pending approval of the D.C. Council.

The proposal includes $515MM from D.C. to assist with Leonsis’ efforts to modernize the arena. The plan also addresses some of Leonsis’ concerns about his ability to grow his businesses, as well as crime in the downtown area near the arena.

As the Post’s authors write, the tentative agreement seems quite similar to one that Leonsis rejected in December, as the 13-member D.C. Council approved $500MM in upgrades for the arena just a few months ago.

Leonsis and Bowser had remained in regular contact despite the proposed plan to move to Virginia, per the Post’s report.

“We appreciated our discussions about how we could grow together,” Bowser said, adding that, “it became very clear about how our community feels about our teams” following Leonsis’ December announcement.

Virginia House Speaker Don Scott confirmed to Sarah Rankin, Matthew Barakat and Stephen Whyno of The Associated Press that he has been told Leonsis is no longer considering moving the teams out of D.C.

Wolves Sign T.J. Warren For Rest Of Season

March 27th, 2024 at 3:38pm CST by Luke Adams

MARCH 27: The Timberwolves have officially signed Warren for the rest of the season, the team announced today in a press release.

MARCH 26: The Timberwolves have agreed to sign forward T.J. Warren to a contract for the rest of the 2023/24 season, according to a report from Shams Charania and Jon Krawczynski of The Athletic (Twitter link).

Warren’s second 10-day deal with Minnesota expired on Monday night, so he can be re-signed at any time. The new agreement will presumably be formally finalized at some point before the Wolves face Detroit on Wednesday.

A free agent for most of the 2023/24 season, Warren initially signed with the Timberwolves on March 6. During his first 20 days with the club, he appeared in seven of nine possible games, averaging 4.1 points and 2.3 rebounds in 14.1 minutes per night, with a shooting line of .382/.182/.500.

Those numbers obviously don’t jump off the page, especially for an accomplished player who had a career scoring average of 14.6 PPG on .506/.354/.780 shooting entering this year. However, the Wolves trusted Warren enough to thrust him immediately into a rotation role, and the club had a pair of open spots on its 15-man roster, so it makes sense to fill one of them with a veteran who has postseason experience.

Assuming Warren officially signs his new contract on Tuesday, it will cover the final 20 days of the season, meaning it will likely be worth $334,007, the same prorated minimum salary that he earned during his first 20 days with the Wolves. Signing on Wednesday would result in a rest-of-season salary worth $317,307.

Warren will be eligible to participate in the playoffs, since he hasn’t been waived since March 1.

After re-adding Warren, Minnesota will have one open spot remaining on its roster. The club must fill that opening by the final day of the regular season in order to carry a 15th man on its playoff roster.

Knicks’ Mitchell Robinson Expected To Return Wednesday

March 27th, 2024 at 12:11pm CST by Luke Adams

Initially listed as out for Wednesday’s game vs. Toronto, Knicks center Mitchell Robinson has been upgraded to questionable, tweets Steve Popper of Newsday. According to Adrian Wojnarowski of ESPN (Twitter link), Robinson is expected to be active and available on Wednesday for the first time since December 8.

Robinson sustained a fracture in his left ankle in December that required surgery. There was some speculation in the days that followed that the injury would cost the big man the rest of the season, since the Knicks applied for a disabled player exception. However, that request was turned down by the NBA in January when a physician ruled that Robinson wasn’t likely to be sidelined through June 15.

At that time the DPE request was denied, there was said to be optimism that the 25-year-old could make it back before the end of the season and it appears that will be the case. Presumably, the Knicks will play it relatively safe with Robinson following a 50-game absence, meaning he’ll likely face a minutes restriction.

As Peter Botte of The New York Post writes, head coach Tom Thibodeau will also have to decide whether to reinsert Robinson into the starting lineup or continue to use Isaiah Hartenstein in that role. I’d be surprised if Robinson reclaims his starting job immediately, though he was playing well prior to his injury, averaging a career-high 10.3 rebounds in 29.2 minutes per game to go along with 6.2 points, 1.5 steals, and 1.3 blocks.

Robinson is one of three key injured frontcourt players the Knicks had been waiting on. OG Anunoby (elbow) and Julius Randle (shoulder) remain out for Wednesday’s game against the Raptors, as Stefan Bondy of The New York Post tweets.

Nets’ Bates-Diop Out For Season Due To Leg Injury

March 27th, 2024 at 11:53am CST by Luke Adams

Nets forward Keita Bates-Diop will be out for the rest of the regular season due to a leg injury, according to a statement from the team (Twitter link).

The Nets announced that Bates-Diop underwent a procedure on Wednesday to address a stress fracture of his right tibia (shin bone). He’s expected to resume on-court activities in about one month.

With Brooklyn currently 5.5 games out of the final play-in spot in the Eastern Conference, it’s a safe bet we won’t be seeing the 28-year-old back in action before next season.

Following a career year with the Spurs in 2022/23, Bates-Diop signed a two-year, minimum-salary contract with the Suns last summer. He appeared in 39 games for Phoenix and started eight of them, but put up modest numbers – including 4.5 PPG and 2.6 RPG on .427/.313/.722 shooting – before being traded to Brooklyn in the deadline deal that sent Royce O’Neale to the Suns.

Bates-Diop didn’t crack the Nets’ regular rotation after arriving in Brooklyn, playing just 68 total minutes in 14 games for the club before being diagnosed with a tibial stress fracture.

Given how his season played out, Bates-Diop seems likely to exercise the minimum-salary player option he holds for 2024/25, which would guarantee his $2,654,644 cap hit for next season. That doesn’t necessarily mean he’d be on Brooklyn’s ’24/25 roster, but the Nets would be on the hook for his full salary unless he’s traded or bought out.

Patrick Beverley Says He Tore Ligament In Wrist

March 27th, 2024 at 10:43am CST by Luke Adams

After missing Tuesday’s game vs. his former Lakers team due to what the Bucks called a right wrist sprain, Patrick Beverley revealed on his latest podcast that the diagnosis is more serious than that. According to Beverley, who underwent X-rays and an MRI, he has a torn ligament in his right wrist (Twitter video clip).

Beverley said he was informed that he would require surgery to repair the tear and that the procedure would likely sideline him for three to four months.

However, the Bucks guard gave no indication that he’s prepared to go under the knife immediately, suggesting that he plans to do all he can to return to the court this season and play through the injury, perhaps postponing surgery until the summer.

According to Beverley, he sustained the injury when he missed a dunk attempt during warmups prior to Sunday’s game against the Thunder. He was active for that game and was a +12 in 15 minutes, though he missed both of his shots from the floor, as well as one of two free throws.

If they ultimately have to shut down Beverley for the season, it would be a tough blow for the Bucks, who sent Cameron Payne and a second-round pick to the Sixers in exchange for the veteran at February’s trade deadline in an effort to add toughness and upgrade their perimeter defense.

Beverley has struggled to score efficiently since arriving in Milwaukee, making just 34.4% on his field goal attempts, but the 35-year-old has been a regular rotation player, averaging 19.6 MPG in 19 appearances, including two starts.

It’s worth noting that the Bucks have a -5.5 overall net rating in Beverley’s 372 minutes on the court, compared to a +11.7 net mark in the 598 minutes he hasn’t played since joining the roster.

We’ll have to wait for an update from Beverley, the team, or a reporter to get a clearer sense of the treatment plan for the wrist, as well as his availability going forward.

Raptors’ Jontay Porter Under Investigation Regarding Betting Issues

March 25th, 2024 at 5:53pm CST by Dana Gauruder

Raptors two-way forward Jontay Porter is under investigation by the NBA following multiple instances of betting irregularities, ESPN’s David Purdum, Brian Windhorst and Adrian Wojnarowski report.

At issue are prop bets involving Porter from games on January 26 and March 20, according to the ESPN trio.

In the Jan. 26 game against the Clippers, there was increased betting interest on the under for Porter props, which were set at 5.5 points, 4.5 rebounds and 1.5 assists. There was also an over/under for Porter’s made 3-pointers, which was 0.5.

That night, Porter played just four minutes before leaving the game due to what the Raptors said was a re-aggravation of an eye injury he’d suffered four days earlier against the Grizzlies. None of the “overs” were achieved on the prop bets, as he went scoreless with three rebounds and one assist.

The next day, DraftKings Sportsbook reported that the under on Porter’s 3-pointers was the biggest money winner for bettors of any NBA player props from games that evening.

On March 20 against the Suns, Porter played just three minutes before departing due to what the Raptors said was an illness. He went 0-for-1 from the field and had two rebounds.

Sportsbooks had his over/unders set at around 7.5 points and 5.5 rebounds.

The next day, DraftKings once again reported that Porter’s prop bets were the No. 1 moneymaker from the night in the NBA.

He missed the Raptors game this past weekend against the Wizards for personal reasons. He’s also listed as out for Monday’s game against the Nets for personal reasons.

The Raptors won’t offer a comment on the report, Blake Murphy of Sportsnet tweets.

NBA players, alongside all league employees, are prohibited from betting on any league events, including prop bets. Violations of the policy could include fines, suspensions and possible termination of contracts, among other actions.

Porter, the brother of Nuggets forward Michael Porter Jr., has appeared in 26 games, averaging 4.4 points, 3.2 rebounds and 2.3 assists in 14 minutes a game.