The Minnesota Timberwolves are being sold to former baseball player Alex Rodriguez and billionaire Marc Lore, according to reports from Adrian Wojnarowski and Shams Charania.
Former Major Leaguer Alex Rodriguez and billionaire Marc Lore are finalizing a deal to purchase the Minnesota Timberwolves from majority owner Glen Taylor, sources tell ESPN. Taylor will continue full control of team for two years before Rodriguez and Lore take over in 2023.
— Adrian Wojnarowski (@wojespn) April 10, 2021
Alex Rodriguez and partner Marc Lore are nearing minority stakes with the Minnesota Timberwolves, with plan to take control of the franchise in two years under mentorship of Glen Taylor. Statement from A-Rod and Lore: pic.twitter.com/nFDIhil5ra
— Shams Charania (@ShamsCharania) April 10, 2021
The purchase price in the deal is expected to be in the $1.5 billion range, sources tell ESPN. https://t.co/40Nq1iOTqd
— Adrian Wojnarowski (@wojespn) April 10, 2021
Any time a small market team is sold, there are immediate concerns as to whether the team will then face relocation.
— Tim Faklis (@timfaklis) April 10, 2021
Glen Taylor held out selling the Timberwolves for years because he didn't want the team to be moved. It remains to be seen if that stance held through the pandemic and the resulting financial squeeze. Taylor has significant net worth, but we all know that wealth does not necessarily equal liquidity.
Hopefully this isn't a move that leads to a relocation. Seattle deserves to have an NBA team again, but not at the expense of another fan base.
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