The 2024 NBA Playoffs are in full swing, but eyes are still on a team that was knocked out last week. The Minnesota Timberwolves are caught up in an ownership dispute that’s gone south pretty fast, after two prospective buyers attempted to finance their purchase of the team in an unconventional way. The FT’s US sports business correspondent Sara Germano breaks down how the deal came together, fell apart, and the can of worms it’s since opened about owning US sports teams.  Clips from Bleacher Report, FOX 9 Minneapolis-St. Paul, KARE 11, House of Highlights, The Dane Moore NBA Podcast - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: The off-the-court fight for one of the NBA’s hottest teams Private equity gears up for potential National Football League investments Michael Jordan agrees to sell majority stake in NBA’s Charlotte Hornets Mark Cuban’s Mavericks bet - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Sara Germano (@germanotes) and Saffeya Ahmed (@saffeya_ahmed). Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Audit firms are supposed to put a company’s books under the microscope. But these days, regulators are finding an increasing number of flaws in the audits that they inspect. The FT’s US accounting editor Stephen Foley explains what’s going wrong, and how regulators around the world plan to fix these shortcomings.  Clips from CNN, NBC News  - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Why don’t auditors find fraud? Auditors failed to raise alarm before 75% of UK corporate collapses Big Four firms rethink governance after year of mis-steps and scandals  - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Stephen Foley (@stephenfoley) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.