The Minnesota Timberwolves' prospective sale to Memphis Grizzlies minority owner Steve Kaplan has reportedly caused friction within the Memphis ownership group and is stalling the sale.
ESPN.com's Brian Windhorst and Zach Lowe reported on the matter Sunday, indicating Kaplan and Grizzlies majority owner Robert Pera have debated for months about shares in the team. Kaplan's spat with Pera is thought to be jeopardizing the former's deal with current Wolves owner Glen Taylor.
Kaplan is attempting to buy 30 percent of the Wolves, with a vision of eventually becoming the controlling owner once Taylor eventually steps down. The tense dynamic between Kaplan and Pera spiked further when Kaplan threatened arbitration during the shares argument and ultimately led Pera to settle, though.
Windhorst and Lowe also reported Pera has largely excluded Memphis' minority owners from key organizational decisions over the past year.
Language in the contracts of another minority owner, Daniel Straus, and Kaplan presents the option for them to make a bid for controlling interest in the Grizzlies beginning in October 2017. So if Pera costs Kaplan a sh ...
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Article written by Matt Fitzgerald
Timberwolves Sale Reportedly Delayed Due to Turmoil Within Grizzlies Ownership
March 13th, 2016 by Matt Fitzgerald Leave a reply »
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