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SOURCE SPORTS: Alex Rodriguez Lead Group to Buy Timberwolves and Lynx for $1.5 Billion

It took a little longer than expected but Alex Rodriguez and Marc Lore have reached an agreement to purchase the Minnesota Timberwolves.



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Shams Charania of The Athletic reported on Thursday that Rodriguez and e-commerce mogul Lore will buy the Timberwolves from Glen Taylor for $1.5 billion. The two are equal, 50-50 partners in the purchase.

Any sale of an NBA club must be approved by the league’s board of governors, which could come later Thursday. 

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Lore and Rodriguez tried to buy the New York Mets last year but were beaten out for the Major League Baseball club by hedge fund manager Steve Cohen.

Taylor, a lifelong Minnesotan who bought the Timberwolves in 1994 for $88 million to save them from moving to New Orleans, has said he will continue to run the club for two more seasons until a handover in 2023. The Minnesota Lynx’s WNBA team is included in the sale.

“They’ve asked that I would be there for any decisions that would need to be made. I would enjoy that. I love teaching people,” Taylor said in an interview last month. “These are a couple of very bright guys, and I think it could be helpful to the club and I think I could be helpful to them so that they feel confident once they take over 100%.”