Reports: Alex Rodriguez part of group finalizing deal to buy Timberwolves, Lynx
Former MLB star Alex Rodriguez is reportedly part of a group that is finalizing a deal to buy the Minnesota Timberwolves and Minnesota Lynx from billionaire owner Glen Taylor
3-time MLB MVP Alex Rodriguez and close friend Marc Lore have signed a letter of intent and are negotiating with Glen Taylor to become the next owners of the Minnesota Timberwolves, sources tell @TheAthletic
— Jon Krawczynski (@JonKrawczynski) April 10, 2021
First reported by The Athletic's Jon Krawczynski, the report was confirmed by ESPN's Adrian Wojnarowski, who wrote:
"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."
The deal is for a reported $1.5 billion.
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
“We look forward to entering this phase of the process with Glen Taylor," Rodriguez told Wojnarowski. "Our respect for him and the legacy he has built lays an amazing foundation for what is to come. We are excited by the prospect of getting to know the Timberwolves organization."
Per Krawczynski, Taylor has orchestrated the deal so that Rodriguez and Lore will keep the franchises in Minnesota.
Glen Taylor tells @TheAthletic that the negotiations have all been conducted with the idea that Rodriguez and Lore will keep the team in Minnesota.
— Jon Krawczynski (@JonKrawczynski) April 10, 2021
"The plan for Taylor to serve as a mentor to Rodriguez and Lore through the early stages of the process, then hand the reins to them, provided the deal gets finalized," Krawczynski said.
More to come.
Title: Bring Me The Sports co-owner, editor Email: joe@bringmethenews.com Twitter: @JoeBMTN Education: Southwest Minnesota State University Location: Minneapolis, Minnesota Expertise: All things Minnesota sports Nelson has covered Minnesota sports for two decades, starting his media career in sports radio. He worked at small market Minnesota stations in Marshall and St. Cloud before joining one of the nation's highest-rated sports stations, KFAN-FM 100.3 in the Twin Cities. There, he was the producer of the top-rated mid-morning sports show with Minnesota Vikings announcer Paul Allen. His radio experience helped blossom a career as a sports writer, joining Minneapolis-based Bring Me The News in 2011. Nelson and Adam Uren became co-owners of Bring Me The News in 2018 and have since more than tripled the site's traffic and launched Bring Me The Sports in cooperation with the Sports Illustrated/FanNation umbrella. Nelson has covered the Super Bowl and numerous training camps, NFL combines, the MLB All-Star Game and Minnesota playoff games, in addition to the day-to-day happenings on and off the field of play. Nelson also has extensive knowledge of non-sports subjects, including news and weather. He works closely with Bring Me The News meteorologist Sven Sundgaard to produce a bevy of weather and climate information for Minnesota readers. Nelson helped launch and manage the Bring Me The News Radio Network, which provided more than 50 radio stations around Minnesota with daily news, sports and weather reports from 2011-17.