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Alex Rodriguez Near Deal to Purchase Timberwolves and Lynx - The New York Times

Alex Rodriguez Near Deal to Purchase Timberwolves and Lynx - The New York Times

Alex Rodriguez Near Deal to Purchase Timberwolves and Lynx - The New York Times
Apr 11, 2021 1 min, 19 secs

Rodriguez and Marc Lore, an e-commerce billionaire, intend to keep the team in Minnesota, the current owner said.

Alex Rodriguez, the former Yankees star and three-time American League most valuable player, and Marc Lore, an e-commerce billionaire who is close to Rodriguez, signed a letter of intent on Saturday to purchase the N.B.A.’s Minnesota Timberwolves and the W.N.B.A.’s Minnesota Lynx, parties on both sides of the deal announced.

The Timberwolves said in a statement that Glen Taylor, the team’s longtime owner, had agreed to a “deal structure” with Rodriguez and Lore that would make them limited partners until 2023 but would also provide them “with a pathway to controlling ownership of the organization.”.

Rodriguez and Lore have 30 days to complete the Minnesota deal after signing the letter of intent and said in a joint statement on Saturday: “We look forward to entering this phase of the process with Glen Taylor.

In an interview on Saturday with The Minneapolis Star Tribune, which he also owns, Taylor said Saturday’s agreement had come together “really fast.” He also told the newspaper that Rodriguez and Lore intended to keep the franchises in Minneapolis, attempting to quell speculation that is sure to swirl about the Timberwolves’ potentially moving to Seattle.

It wasn’t the first time that Taylor had backed away from the negotiating table after seriously entertaining the sale of the team, but Rodriguez and Lore appear willing to grant a timeline that allows Taylor to wean himself away from Timberwolves ownership slowly — a luxury he is known to deeply covet.

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