MINNEAPOLIS – Former Major League Baseball MVP and World Champion Alex Rodriguez and his billionaire financial backer Marc Lore have yet to complete their deal to purchase the NBA’s Minnesota Timberwolves following a 30-day exclusive negotiating window. The potential ownership group has reportedly continued to negotiate with Timberwolves’ current owner Glen Taylor.
The Athletic originally reported an agreement was reached on a $1.5 billion price and that the team would remain in Minneapolis — a requirement from Taylor, who has owned the team for almost 30 years.
Rodriguez and Lore would first become minority owners, according to The Athletic, and in 2023, would gain full control. The deal would also include the WNBA’s Minnesota Lynx.