Updated: May 27, 2021 11:24 AM
Created: May 27, 2021 07:26 AM
It alleges current franchise owner Glen Taylor's pending sale violates the franchise's partnership agreement because the deal doesn't honor "tag-along rights" for minority investors.
Those allow minority owners to sell interests before Taylor sells his.
The complaint also reveals that the new ownership team, which includes Alex Rodriguez and Marc Lore, would only have to present plans to an advisory board before moving the franchise.
That advisory board doesn't have to give approval for the sale to happen, according to the complaint.
The revelations are contrary to Taylor's public statements. He has said a deal would include a provision to keep the team in the Twin Cities.
Taylor issued the following statement Thursday:
"I am aware of the story published by ESPN and the litigation that has been filed. As a policy, we do not comment on pending legal matters. I stand by my prior statements and commitment to keeping the Timberwolves and Lynx in Minnesota."
Copyright 2021 - KSTP-TV, LLC A Hubbard Broadcasting Company