Minnesota Timberwolves Ownership Deal with Marc Lore and Alex Rodriguez Expires

Published: 28 March 2024 at 17:09

Basketball

Glen Taylor announced that the deal for Marc Lore and Alex Rodriguez to acquire a controlling stake in the Minnesota Timberwolves has expired. The initial agreement was for $1.5 billion in 2021, with Lore and Rodriguez acquiring 20% of the franchise. The deal required Lore and Rodriguez to make the final payment by a certain deadline, which did not happen. Taylor stated that the team will remain under his ownership and that he will work with Lore and Rodriguez to support the team\'s competitiveness. The acquisition process was prolonged to allow Taylor to mentor the prospective owners on NBA and WNBA ownership.