A-Rod Finalizing Bid To Buy Timberwolves

Former MLB superstar, Alex Rodriguez, has teamed up with e-commerce mogul Marc Lore to bid on the sale of the Minnesota Timberwolves. Rodriguez and Lore signed the letter of intent on Saturday and have an exclusive 30-day window to reach and agreement with Timberwolves owner Glen Taylor.

Former Major Leaguer Alex Rodriguez and billionaire Marc Lore are finalizing a deal to purchase the Minnesota Timberwolves from majority owner Glen Taylor, sources tell ESPN. Taylor will continue full control of team for two years before Rodriguez and Lore take over in 2023.

— Adrian Wojnarowski (@wojespn) April 10, 2021

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The Athletic were the first to report the deal.

BREAKING – Alex Rodriguez is negotiating to become a limited owner of the Timberwolves.@AROD and partner Marc Lore have signed a letter of intent and are negotiating with Glen Taylor, but no final agreements have been made.

Sources tell @JonKrawczynski. pic.twitter.com/EZkT3ZxmcW

— The Athletic (@TheAthletic) April 10, 2021

Negotiations of the deal are moving quickly. This sale would also include the Minnesota Lynx, their WNBA team who are also owned by Taylor. Under the conditions of the deal, Taylor would keep control of the club for the next two years and bring on Rodriguez and Lore as partners until a transfer in powers in 2023.

The Minnesota Timberwolves entered the NBA in 1989 for $32.5M and then sold to Glen Taylor for approximately $90M in 1994. In a report done by CNBC, the new deal for the Timberwolves could sell for over $1 billion.

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