T-wolves owner not selling club

MINNEAPOLIS — The ownership transfer of the Minnesota Timberwolves slammed to a halt when Glen Taylor declared on Thursday he won't take the final step of his drawn-out $1.5 billion deal to hand Marc Lore and Alex Rodriguez the majority stake because they didn't meet all of the deadlines in the sale conditions.

Lore and Rodriguez, who agreed to the purchase nearly three years ago, strongly disputed Taylor's stance. They said he simply had cold feet about letting go.

“We went through the process, and I spent a lot of time. We've got a really good team, we've got a lot of good things going for us, I enjoy it and I'm healthy enough to do this,” Taylor said in an interview with The Associated Press after the announcement. “I don't need the money, so I think I'll just keep running it and enjoy it. I like my coach. I like my staff. This way everybody gets to keep their jobs, and I'll be happy.”

Lore, the e-commerce entrepreneur, and Rodriguez, the former Major League Baseball star, issued a joint statement expressing disappointment in Taylor and contending that they've upheld their end of the deal that was to also include the WNBA'S Minnesota Lynx. Lore and Rodriguez already own a 40% stake.

“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,” the partners said. "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 an historic winning season.”

The Timberwolves (50-22) beat Detroit on Wednesday to reach the 50-win mark for just the fifth time in the 35-year history of the franchise.