Former MLB star Alex Rodriguez and tech entrepreneur Marc Lore have reportedly reached an agreement to purchase the Timberwolves and the WNBA’s Minnesota Lynx from owner Glen Taylor, according to The Athletic‘s Shams Charania.
The two are expected to be equal, 50-50 partners, and will sign the paperwork for the deal reportedly worth $1.5 billion in the coming days.
Lore and Rodriguez reached an agreement to negotiate a purchase of the Timberwolves on April 10. But after a month of negotiating with Taylor, no deal had been reached when their 30-day exclusive negotiating window expired two days ago.
Rodriguez’s group will become full owners of the Timberwolves and the Lynx in 2023–24 once the reported agreement is signed. According to Front Office Sports, part of the terms of any sale included that Taylor is expected to operate the Timberwolves through 2023 as the partners move into their ownership role.
Lore and Rodriguez are longtime friends and business partners. The two attempted to purchase the Mets just last year before Steve Cohen was able to secure the team.
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