Alex Rodriguez’s efforts to take full control of the Minnesota Timberwolves are continuing on schedule.
Rodriguez and business partner Marc Lore exercised their option to purchase another 20 percent share of the Timberwolves and the Minnesota Lynx, according to Shams Charania and Jon Krawczynski of The Athletic. The two had until the end of Saturday to officially exercise the option, and will have until March 15 to close that second share.
Rodriguez and Lore initially agreed to purchase the team in installments from outgoing owner Glen Taylor. This is the second share for the two, and the next step will be to purchase another 40 percent of the team by the end of 2023.
Taylor has the option to back out of the deal if Rodriguez and Lore cannot meet one of these deadlines. So far, this does not appear to be an issue, and Taylor has built a rapport with both. There were rumors that Rodriguez was struggling to come up with the money for his share of the team, but at least for the moment, he appears to be in the clear.
Rodriguez and Lore agreed to purchase the team in 2021 for $1.5 billion, and have been involved in key decisions since reaching an agreement, even though both remain minority partners for the time being.
