Alex Rodriguez and Marc Lore have reportedly struck a deal to officially acquire 100% ownership of the Minnesota Timberwolves and Lynx after more than a year of bitter negotiations with current majority owner Glen Taylor.
This deal was finalized on Wednesday, according to reports, after the MLB legend and former Walmart CEO put up $1.5 billion for the T’Wolves and Lynx in 2021.
In 2024, however, the deal fell apart after Taylor — who owned the Minnesota franchise for 34 years — claimed they missed a negotiated deadline.
A-Rod and Lore disagreed with Taylor, at the time stating … “We have fulfilled our obligations, have all necessary funding, and are fully committed to closing our purchase of the team as soon as the NBA completes its process.”
“Glen Taylor’s statement is an unfortunate case of seller’s remorse that is short sighted and disruptive to the team and the fans during a historic winning season.”
But, at the end of the day, the parties were able to come to an agreement … and the new group even threw in a few perks for the outgoing 83-year-old.
Taylor gets free courtside seats, a suite, and a reserved parking spot for the T’Wolves and Lynx’s home games, both regular season and the playoffs.
The NBA has begun the process of finalizing the sale.
Congrats!!!
