Shams Charania of The Athletic and Stadium reports Rodriguez and business partner Marc Lore, a tech entrepreneur, finalized a formal agreement to buy the NBA's Minnesota Timberwolves from Glen Taylor for $1.5 billion.
Rodriguez and Lore are expected to sign formal paperwork shortly, and sources say A-Rod and Lore are equal, 50-50 partners in the purchase. https://t.co/9u5GqadCLH— Shams Charania (@ShamsCharania) May 13, 2021
Per Cassandra Negley of Yahoo Sports and Brian Windhorst of ESPN, the deal includes the WNBA's Minnesota Lynx. It's believed the new ownership group must keep the clubs in Minnesota per the terms of the agreement.
Windhorst previously explained Rodriguez and Lore are expected to buy pieces of the Timberwolves en route to taking full control for the 2023-24 NBA season. The exact date for when Taylor will relinquish controlling ownership is unclear.
Among those who attempted to buy the NBA franchise was a group that included Timberwolves legend Kevin Garnett up through early March of this year.
Billionaire hedge fund manager Steve Cohen assumed ownership of the Mets last fall.