Minnesota businessman Bill Sexton has dropped his bid to buy the Minnesota Timberwolves, his chief negotiator said.
"We just couldn't get over the indemnification issue," John Drossos told the Saint Paul Pioneer Press late Monday. He referred to pending litigation by Top Rank Inc. in the wake of its failed bid to buy the Timberwolves and move the NBA team to New Orleans."We weren't able to resolve it. Mr. Sexton and Mr. (Willis) Heim grew tired of the process," Drossos said.