Alex Rodriguez reaches agreement to buy Timberwolves for this price
It took a little longer than expected, but Alex Rodriguez and business partner Marc Lore have reached an agreement to purchase the Minnesota Timberwolves.
Shams Charania of The Athletic reported on Thursday that Rodriguez and Lore will buy the Timberwolves from Glen Taylor for $1.5 billion. The two are equal, 50-50 partners in the purchase.
Rodriguez and Lore had a 30-day exclusive negotiating window with Taylor that ended earlier this week, which meant other interested investors technically had an opportunity to get involved. Despite that, negotiations continued in good faith and the two sides never indicated they felt the deal was going to fall apart.
Other interested parties reportedly tried to get involved in the bidding before Rodriguez and Lore closed the deal.