Alex Rodriguez, Marc Lore negotiating to become Timberwolves owners
Alex Rodriguez may have failed in his bid to buy the New York Mets, but it looks like he could end up owning a major professional sports team anyway.
Minnesota Timberwolves reporter Jon Krawczynski of The Athletic reported on Saturday that Rodriguez and business partner Marc Lore (pronounced “Loree”) are negotiating to become the owners of the Timberwolves. The two reportedly have a 30-day exclusive negotiating window with current owner Glen Taylor.
A-Rod and Lore have a 30-day exclusive negotiating window with Taylor. If a deal is finalized, they would serve as limited partners for 2 ½ years before taking control of the Wolves, sources tell @TheAthleticMIN
— Jon Krawczynski (@JonKrawczynski) April 10, 2021
According to the report, the plan would be for Rodriguez and Lore to be limited partners for two and a half years before taking control of the team.
Rodriguez and Lore issued the following statement:
“We look forward to entering this phase of the process with Glen Taylor. 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, the talented team and their incredible fans.”
We learned last July that Taylor was putting the Timberwolves up for sale. Former Timberwolves star Kevin Garnett was making a bid to own the team, but that did not happen. Garnett ended up taking shots at Taylor as a result. A different former sports star may end up buying the team now.