Former MLB star Alex Rodriguez is reportedly part of a group that is finalizing a deal to buy the Minnesota Timberwolves and Minnesota Lynx from billionaire owner Glen Taylor
3-time MLB MVP Alex Rodriguez and close friend Marc Lore have signed a letter of intent and are negotiating with Glen Taylor to become the next owners of the Minnesota Timberwolves, sources tell @TheAthletic
— Jon Krawczynski (@JonKrawczynski) April 10, 2021
First reported by The Athletic’s Jon Krawczynski, the report was confirmed by ESPN’s Adrian Wojnarowski, who wrote:
“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.”
The deal is for a reported $1.5 billion.
The purchase price in the deal is expected to be in the $1.5 billion range, sources tell ESPN. https://t.co/40Nq1iOTqd
— Adrian Wojnarowski (@wojespn) April 10, 2021
“We look forward to entering this phase of the process with Glen Taylor,” Rodriguez told Wojnarowski. “Our respect for him and the legacy he has built lays an amazing foundation for what is to come. We are excited by the prospect of getting to know the Timberwolves organization.”
Per Krawczynski, Taylor has orchestrated the deal so that Rodriguez and Lore will keep the franchises in Minnesota.
Glen Taylor tells @TheAthletic that the negotiations have all been conducted with the idea that Rodriguez and Lore will keep the team in Minnesota.
— Jon Krawczynski (@JonKrawczynski) April 10, 2021
“The plan for Taylor to serve as a mentor to Rodriguez and Lore through the early stages of the process, then hand the reins to them, provided the deal gets finalized,” Krawczynski said.
More to come.
