Minnesota Timberwolves Sale Fails: Lore and Rodriguez Miss Deadline, NBA Franchise No Longer Available
The Minnesota Timberwolves and Minnesota Lynx are no longer for sale as prospective buyers Alex Rodriguez and Marc Lore failed to close the reported $1.5 billion deal by the deadline, leading owner Glen Taylor to announce the franchises are off the market.
By the Numbers- Lore and Rodriguez agreed to buy a majority stake in the teams for $1.5 billion in 2021.
- They have purchased 40% of the franchises and were set to increase their stake to 80% this week.
Taylor's relationship with Lore and Rodriguez soured during the transition period, leading to the failure to meet the deadline.
State of Play- The Timberwolves are currently 50-22, competing for the top seed in the Western Conference.
- The payroll is expected to rise significantly next season with contract extensions for key players like Anthony Edwards and Karl-Anthony Towns.
Lore and Rodriguez have not met the deadline to acquire the teams, leaving the future ownership and direction of the franchises uncertain.
Bottom LineFailed deal between Rodriguez, Lore, and Taylor means the Timberwolves and Lynx are no longer for sale, impacting the ownership landscape and future prospects of the NBA teams.
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