Glen Taylor will remain as controlling owner of the Minnesota Timberwolves after Marc Lore and Alex Rodriguez did not close on their option by the March 27th deadline.

Lore and Rodriguez agreed to purchase the Wolves in 2021 at a valuation of $1.5 billion. The deal allowed them to purchase 20 percent of the team in July 2021, 20 percent more in 2022 and 40 percent more in 2023.

Lore and Rodriguez were expected to have Dyal Capital Partners finance the final purchase. According to reporting from ESPN's Adrian Wojnarowski, the necessary financing had been secured by Lore and Rodriguez, but Taylor contends that they didn't meet contractual deadlines. Wojnarowski also reports that the relationship between Taylor and his successors, Lore and Rodriguez, had disintegrated since they agreed to the sale.

“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,” said Taylor. “The Timberwolves and Lynx are no longer for sale.”

Jon Krawczynski of The Athletic confirmed that Taylor will not put the franchise back up for sale if he retains his controlling interest.

Sources also tell The Athletic that the purchase agreements calls for mediation and arbitration to resolve any disputes. Under terms of the agreement, Lore and Rodriguez will retain the 40 percent of the franchise they have already purchased.

Lore and Rodriguez released the following statement in response:

"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."

Marc Lore and Alex Rodriguez are ready to close their purchase of the Minnesota Timberwolves after reaching a deal with Dyal Capital Partners to finance the deal.

Dyal Capital Partners joins as a pre-approved investor in the group, which gives Lore and Rodriguez the final financial backing necessary to complete the transaction.

Lore and Rodriguez have submitted the signed financial documentation to the NBA to complete the acquisition. 

The NBA is considering creating a standalone NBA Europe league.

The league has been approached by stakeholders on several ways to expand the European business outside of a EuroLeague partnership.

Any new property would be launched in cooperation with FIBA.

The NBA currently generates a few hundred million dollars a year in Europe, a blip in its overall $13 billion business. The NBA thinks that the basketball ecosystem in Europe and Middle East could be worth as much as $3 billion in annual revenue.

Mat Ishbia assumed ownership of the Phoenix Suns shortly before the NBA instituted a new collective bargaining agreement with a punitive second luxury tax apron. The second apron was designed to keep teams from maintaining a high payroll over an extended period of time, but the Suns responded by going deeply into it to maximize their chances of winning a title with a core of Kevin Durant and Devin Booker.

"I understand all the rules that come with the second apron. I understand exactly what the CBA tried to do," Ishbia told ESPN's Ramona Shelburne. "I read it, I know it inside and out, and we made a calculated decision that we think the team with the best players wins. Would I rather have Brad Beal, Kevin Durant and Devin Booker than just having two of those guys? I'd rather have all three a hundred times out of a hundred, and I don't think there's another GM or owner or CEO that wouldn't say that exact same thing.

"So now how do you maneuver around that? Well, you have to differentiate yourself. ... I have to create an environment where [we're] trying to be the best franchise in sports where the players want to come play."

Durant endorses the strategy of Ishbia.

"That's what you're supposed to do as an owner," Durant told ESPN. "It's about swinging for the fences every year.

"What else are you supposed to do? Sit back and hope that you get a draft pick that turns out to be Victor [Wembanyama]? No."

While the Suns made a number of bold moves over the past year, they have been uneven on the floor as Beal and Booker have struggled with injuries. The Denver Nuggets, Minnesota Timberwolves, Los Angeles Clippers and Oklahoma City Thunder are a fairly firm top-4 the Suns are trailing.

"If we don't win this year ... which is possible... then we'll say, 'OK, what can we do better to try to win next year? Do I need to adjust? Do we need to run different plays? Do we need different players? Do [we] change something? What do I do?" Ishbia says. "All I'm focused on is how do we win right now. I'm not thinking about what our 2031 draft [is] going to look like. I'm excited about the 2024 playoffs."

"Everybody here is on the same page," Booker told ESPN. "We're in win-now mode. We want excellence. We know it's not going to be easy. It's a new team, but when you give up that much, we're trying to win this year and years to come."

Michael Jordan is the highest-paid athlete of all-time, according to a study from Sportico. Jordan's inflation-adjusted earnings put him at $3.75 billion.

LeBron James ranks fifth at $1.76 billion or $1.36 billion when not adjusted for inflation. 

Ahead of James in the top-5 are Tiger Wood, Cristiano Ronaldo and Arnold Palmer.

Behind James in the top-10 are Jack Nicklaus, Lionel Messi, David Beckham, Roger Federer and Floyd Mayweather.

Earnings include salaries, bonuses, prize money, purses, endorsements, licensing, royalties, memorabilia, book deals, media, appearance fees and golf course design fees. The salary components do not include deferred compensation until it is paid out.

Out of Sportico's top-50, 12 are current or former NBA players (all totals below adjusted for inflation): 

• Michael Jordan (1), $3.75 billion
• LeBron James (5), $1.7 billion
• Shaquille O'Neal (13), $1.21 billion
• Kobe Bryant (14), $1.09 billion
• Kevin Durant (17), $955 million
• Stephen Curry (21), $770 million
• Magic Johnson (34), $645 million
• Kevin Garnett (39), $635 million
• Russell Westbrook (42), $620 million
• Chris Paul (44), $575 million
• James Harden (45), $570 million
• Dwyane Wade (47), $565 million