A deal has finally been reached for Alex Rodriguez and Marc Lore to purchase the Minnesota Timberwolves.
Shams Charania was the first to report the news.
Former MLB star Alex Rodriguez and tech entrepreneur Marc Lore have reached agreement to purchase the Minnesota Timberwolves from Glen Taylor for $1.5 billion, sources tell @TheAthletic @Stadium.
— Shams Charania (@ShamsCharania) May 13, 2021
The final price to pull the Timberwolves away from Glen Taylor was $1.5 billion. The two sides had been in negotiations for quite some time but recently the talks had fizzled out. There was a growing doubt that a deal might not actually come to fruition after talks continued to result in no deal being made.
Interestingly enough, Rodriguez and Lore will be doing a straight-up, 50-50 purchase of the Timberwolves in the deal.
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
For Rodriguez, he goes from former MLB great, to widely hated former player after his PED findings during his playing days, to highly regarded again as a broadcaster in his post playing days to now owning an NBA franchise.
It's been quite a turnaround for Alex Rodriguez and his perception that many have of him which is now viewed in a much more positive light.
For the Timberwolves, it hasn't been smooth sailing. The team has just one playoff appearance in the last decade plus, but the future does look legitimately bright.
Minnesota appears to have two franchise pillars to build around in Karl-Anthony Towns and Anthony Edwards. They have been playing exceptional basketball down the stretch run of the season and will hope to carry that momentum into next year. And now, they have some new owners.
The aforementioned Edwards will have to familiarize himself more with Alex Rodriguez now that this is a done deal.
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