Perhaps the team will see more success under new ownership. Kevin Garnett once again lit into Timberwolves owner Glen Taylor while announcing he'll no longer look into trying to buy the team. We’ll see whether he or Rodriguez is the face of the ownership group moving forward. Timberwolves, Lynx confirm sale to Alex Rodriguez group Sportsnaut Feb 2, 2020; Miami Gardens, Florida, USA; Alex Rodriguez on the sidelines before Super Bowl LIV … If Rodriguez does become a Timberwolves owner, he will join a small group of athletes of color who now own a sports team. Timberwolves and Lynx owner Glen Taylor reached an agreement to sell the NBA and WNBA teams to Alex Rodriguez and tech entrepreneur Marc Lore for $1.5 billion, according to reports. 600 Hennepin Avenue, Suite 300. A-Rod’s Ownership Group Closing Deal To Buy Timberwolves And Lynx For $1.5 Billion. The Timberwolves would become the second NBA franchise sold this season. (Photo by Elsa/Getty Images) Minnesota Timberwolves: Exploring the ownership saga Owner Glen Taylor is looking for a buyer for the Minnesota Timberwolves. This video is unavailable because we were unable to load a message from our sponsors. This would help A-Rod follow the footsteps of Michael Jordan, among others, as NBA owners. USATSI. The ownership group Rodriguez is a part of still hasn't finalized a deal to buy the Minnesota Timberwolves, according to ESPN's Brian Windhorst. Rodriguez and Lore are equal partners in the purchase, which also includes the WNBA’s Minnesota Lynx. The Associated Press contributed to this report. Share on reddit. ESPN is reporting that a guaranteed timeline to turn over ownership is a significant sticking point. The Timberwolves need an injection of money, excitement and a new ownership group could help provide that. “A-Rod is … Rodriguez's group secured exclusive negotiating rights in April. 612.673.1600 Contact Us Minnesota Timberwolves. On April 10, 2021, the Rodriguez/Lore group reached a tentative deal with Taylor to purchase the Timberwolves for $1.5 billion. USATSI An ownership group featuring former MLB star Alex Rodriguez and tech entrepreneur Marc Lore has reached an agreement to Alex Rodriguez's ownership group reaches agreement to buy Timberwolves, Lynx for $1.5 billion, per report - FantasySportsGenius Part of the deal is that Taylor will stay involved in running the team for two more years. The potential purchase of the Timberwolves is reportedly expected to be worth around $1.5 billion. Alex Rodriguez and former Walmart CEO Marc Lore's $1.5 billion bid to buy the NBA's Minnesota Timberwolves is in peril after a 30-day window to close the deal ended this week. However, that time frame passed without a formal deal, which led to speculation that the team could be sold to another group. Share on email. Just two days after their exclusive 30-day negotiating window came to a close, Rodriguez and tech entrepreneur Marc Lore have reached an agreement to purchase the Timberwolves for $1.5 billion, according to The Athletic’s … I would enjoy that. The sale also includes the G League's Iowa Wolves and T-Wolves Gaming. MLB legend Alex Rodriguez will be a part of the Timberwolves’ new ownership group. Rodriguez and Lore are equal partners in the purchase, which also includes the WNBA's Minnesota Lynx. … After developing a small print store into a multi-million-dollar enterprise, Taylor’s career took a new direction in 1994 when he acquired majority ownership of Minnesota Timberwolves NBA basketball team. Home/US/ Alex Rodriguez part of ownership group set to buy NBA’s Timberwolves and WNBA’s Lynx/US/ Alex Rodriguez part of ownership group set to buy NBA’s Timberwolves and WNBA’s Lynx Former NBA guard Arron Afflalo is reportedly heading an ownership group that is hoping to buy the Minnesota Timberwolves.. Wolves legend Kevin Garnett was involved with a group that made inquiries, but the situation became messy and never panned out given the bad blood between Garnett and Taylor. According to KSTP-TV's Darren Wolfson, "more than 10 groups made an inquiry" to buy the team, but the group involving Garnett was not one of them.Taylor also said the groups finishing their due diligence and that the process has "picked up." Rodriguez's group will become full owners of the Timberwolves and the … This story was originally published by CBS Sports on May 13, 2021. While current Timberwolves owner Glen Taylor said on April 10 he intended to sell the team to the ownership group of Rodriguez and tech entrepreneur Marc Lore, the exclusive 30-day negotiating window has closed without any deal. The Timberwolves need an injection of money, excitement and a new ownership group could help provide that. Last week, Timberwolves owner Glen Taylor announced plans to sell the team after 26 years of primary ownership. Minnesota Timberwolves owner Glen Taylor was considering a sale of the team, and Garnett was reportedly interested in putting a group together … The Minnesota Timberwolves are for sale, and franchise icon Kevin Garnett is part of a group of investors looking to buy the team, the Hall of Famer announced Tuesday. Glen Taylor reportedly reaches agreement to sell Wolves and Lynx to Alex Rodriguez’s group. According to the report from AP’s Dave Campbell and Pat Graham, Afflalo’s group … Timberwolves, Lynx confirm sale to Alex Rodriguez group Sportsnaut Feb 2, 2020; Miami Gardens, Florida, USA; Alex Rodriguez on the sidelines before Super Bowl LIV … MLB legend Alex Rodriguez will be a part of the Timberwolves’ new ownership group. An ownership group featuring Alex Rodriguez set to purchase the Minnesota Timberwolves from current owner Glen Taylor was unable to finalize a … The Courts at Mayo Clinic Square. Last year the two were behind a pitch to purchase the New York Mets, but that deal did not go through. This isn’t the first time Lore and Rodriguez have tried to buy a team. An ownership group featuring former MLB star Alex Rodriguez and tech entrepreneur Marc Lore has reached an agreement to purchase the Minnesota Timberwolves from Glen Taylor for $1.5 billion, according to Shams Charania of The Athletic. We watch ESPN so you don't have to... A-Rod and his ownership group can’t close deal for Timberwolves… Go to article. Well, probably not. … July 21, 2020 2:53 PM MINNEAPOLIS (AP) — Kevin Garnett wants to come back to Minnesota — as a Timberwolves owner. After a brief period of uncertainty, former Yankee slugger Alex Rodriguez is indeed becoming part of the ownership group for the Minnesota Timberwolves. Rodriguez's group will become full owners of the Timberwolves and the WNBA's Minnesota Lynx in 2023–24 if a deal is reached. An ownership group featuring former MLB star Alex Rodriguez and tech entrepreneur Marc Lore has reached an agreement to purchase the Minnesota Timberwolves from Glen Taylor for … Longtime NBA star Kevin Garnett expressed interest last summer in bidding on his former team, the Timberwolves, as part of a prospective ownership group, but Garnett said in an Instagram story on Thursday that he’s no longer in the running to buy the franchise. NBA great Michael Jordan owns … He’s also helped out Joe Smith, a former Wolves player. But the deal does not appear to be set in stone just yet. Rodriguez's group secured exclusive negotiating rights in April. That 30-day period has passed, and the two sides have not agreed on a deal, according to Windhorst. Lore, 49, became Walmart's e-commerce chief in 2016, when the retail giant bought his Jet.com startup in an attempt to boost online business. "The transaction will close following league approval beginning the transition of ownership and a new chapter.". ownership group blindly. That … NBA veteran Arron Afflalo, who is heading an ownership group that has pursued the Minnesota Timberwolves for 10 months, told @NYTSports he plans … First the Mets, then J.Lo and now the Timberwolves? … Minneapolis, MN 55403. The Timberwolves didn't enjoy much success during Taylor's time as the owner. A-Rod's group agreed to a formal deal with Glen Taylor, but still needs to be approved by the NBA's Board of Governors Though they made the playoffs nine times, they only advanced past the first round once, and they have no titles or Finals appearances. Taylor previously said a deal was contingent on Lore and Rodriguez keeping the team in Minnesota. The Mets eventually agreed to … Alex Rodriguez's Group Closing Deal to Buy Minnesota Timberwolves & Lynx for $1.5 BIL Timberwolves & Lynx A-Rod's Ownership Group Closing Deal to Buy Teams... $1.5 BILLION! Posted by Country Money on May 11, 2021 12:52 pm SPORTS JUNKIES -- CHECK OUT GUTSMACK Alex Rodriguez part of ownership group to buy the Timberwolves Sports and Racing - NBA This is a split board - You can return to the Split List for other boards. … This whole situation has me in a catch-22. Timberwolves star Karl-Anthony Towns gave his thoughts about the potential change in ownership on April 11 following a Timberwolves win over the Chicago Bulls. An ownership group led by longtime NBA player Arron Afflalo is putting together an offer to buy the Minnesota Timberwolves, two people with knowledge of the … Vanessa Bryant Gets Emotional at Basketball Hall of Fame Ceremony, Henry Cavill Says He's 'Very Happy in Love', Nicki Minaj's Pink Crocs Went Viral -- Shop Her Look, 'Bridgerton' Spinoff About Young Queen Charlotte Coming to Netflix, How the Royal Family Feels About Prince Harry's 'Truman Show' Comments, Jennifer Lopez Split From Alex Rodriguez Over 'Trust Issues She Couldn't Get Past'. A buyer’s group led by former MLB star Alex Rodriguez and billionaire Marc Lore are in talks to purchase the NBA‘s Minnesota Timberwolves. tmz.com - TMZ Staff • 8h. A group headed by former baseball star Alex Rodriguez has come to terms on its purchase of the NBA’s Minnesota Timberwolves and the WNBA’s Lynx a month after signing a … Rodriguez and Lore will take over the Timberwolves and the WNBA's Lynx for $1.5 billion, sources told ESPN's Brian Windhorst, with the deal expected to close around July 1. Terms of Use and Privacy Policy. Alex Rodriguez 'Shocked' by Jennifer Lopez's Reunion With Ben Affleck, Alex Rodriguez Is Asked About Jennifer Lopez and Ben Affleck's Trip, A-Rod Shares His Transformation After Leaving 'the Dad-Bod in 2020', By signing up, you agree to our Timberwolves owner Glen Taylor has agreed to sell the team to former baseball star Alex Rodriguez and e-commerce mogul Marc Lore, with sources telling ESPN the price tag is $1.5 billion. An ownership group featuring former MLB star Alex Rodriguez and tech entrepreneur Marc Lore has reached an agreement to purchase the Minnesota Timberwolves from Glen Taylor for $1.5 billion, according to Shams Charania of The Athletic. ® & © 2021 CBS Studios Inc. © 2021 CBS Television Distribution and CBS Interactive Inc. All Rights Reserved. The group initially signed a letter of intent on April 10, which gave it exclusive negotiating rights for the next 30 days. (0:29). Alex Rodriguez's Group Closing Deal to Buy Minnesota Timberwolves & Lynx for $1.5 BIL Timberwolves & Lynx A-Rod's Ownership Group Closing Deal to Buy Teams... $1.5 BILLION! Alex Rodriguez and his party will continue to try and work out a deal for the Timberwolves, with the purchase price expected to be around $1.5 billion. I also am reluctant to hope for a K.G. An ownership group featuring former MLB star Alex Rodriguez and tech entrepreneur Marc Lore has reached an agreement to purchase the Minnesota Timberwolves While current Timberwolves owner Glen Taylor said on April 10 he intended to sell the team to the ownership group of Rodriguez and tech entrepreneur Marc Lore, the exclusive 30-day negotiating window has closed without any deal. Months after the former Major League Baseball star came up short in a bid to buy the New York Mets, the National Basketball Association opened up its ownership club. Gail Miller and her family struck an agreement in October to sell the Utah Jazz to Ryan Smith, a deal that was finalized after board of governors' approval in December. Rodriguez, 45, hit 696 home runs over 22 major league seasons with the New York Yankees, Seattle Mariners and Texas Rangers. An ownership group featuring Alex Rodriguez set to purchase the Minnesota Timberwolves from current owner Glen Taylor was unable to finalize a deal before their negotiating window ended, per ESPN's Brian Windhorst. Alex Rodriguez has bigger things on his plate to deal with now that A-Rod’s ownership is just a couple steps away from acquiring the Minnesota Timberwolves of the NBA and the … Share on twitter . Rodriguez's bid for Timberwolves ownership comes shortly after his failed attempt to buy the New York Mets alongside ex-fiancee Jennifer Lopez. Rodriguez, his fiancee Jennifer Lopez and a group of New York business leaders placed a combined $2.3 billion bid to purchase the New York Mets. A buyer’s group led by former MLB star Alex Rodriguez and billionaire Marc Lore are in talks to purchase the NBA‘s Minnesota Timberwolves. According to the report from AP’s Dave Campbell and Pat Graham, Afflalo’s group would … I love teaching people," Taylor said in an interview last month. Minnesota Timberwolves: Potential new ownership group led by Arron Afflalo. "They've asked that I would be there for any decisions that would need to be made. At the time, it … Jesse D. Garrabrant/NBAE/Getty Images … NBA.com Staff July 21, 2020 9:53 PM. Lore notified Walmart on Jan. 31 of his intent to leave the company. If completed, Rodriguez would be part of an ownership group for both the Timberwolves and the Minnesota Lynx . Alex Rodriguez's group hasn't closed the deal to buy the Timberwolves, but talks are continuing, sources told ESPN. The team has a lease at the Target Center through 2035, but the buyout is $50 million. I can’t support Taylor, who has been a top-five worst NBA owner of all-time in a league that supported Donald Sterling for 30 years, but he is the one person between the Timberwolves and Seattle. Another group has entered the Minnesota Timberwolves ownership sweepstakes. An ownership group featuring former MLB star Alex Rodriguez and tech entrepreneur Marc Lore has reached an agreement to purchase the Minnesota Timberwolves from Glen Taylor for $1.5 billion. If completed, Rodriguez would be part of an ownership group for both the Timberwolves and the Minnesota Lynx. Alex Rodriguez leads a consortium of buyers that will take over from Glen Taylor as the Wolves’ owners. Report: Alex Rodriguez ownership group finalizes deal to take over Timberwolves, just days after the 30-day exclusive negotiating window closed. The two sides had entered an exclusive 30-day negotiating window April 10 that expired without an agreement, though the sides continued to negotiate in good faith, sources previously told Windhorst. CBS Sports - An ownership group featuring Alex Rodriguez set to purchase the Minnesota Timberwolves from current owner Glen Taylor was unable to finalize a deal … Alex Rodriguez's ownership group hasn't closed deal to buy Minnesota Timberwolves, per report - Flipboard Former MLB star Alex Rodriguez and ex-Walmart e-commerce CEO Marc Lore haveagreed to purchase the NBA's Minnesota Timberwolves for approximately $1.5 billion. 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Lore and Rodriguez met with Timberwolves personnel and toured team facilities in Minneapolis last month. Phillip Beneteau May 13, 2021 NBA / Sideaction; Share on facebook. "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%.". A group headed by former baseball star Alex Rodriguez has come to terms on its purchase of the NBA’s Minnesota Timberwolves and the WNBA’s Lynx a month after signing a … Timberwolves & Lynx A-Rod's Ownership Group Closing Deal to Buy Teams ... $1.5 BILLION! He will continue to serve in a consulting role as a strategic adviser through September. Rodriguez, along with famed tech entrepreneur Marc Lore have been attempting to purchase the Timberwolves from owner Glen Taylor for months now, but negotiations have ended without a formal […] Rodriguez's group had a 30-day window in which it could engage in exclusive negotiations with current team owner Glen Taylor. Minnesota Timberwolves owner Glen Taylor has agreed to sell the team to former baseball star Alex Rodriguez and e-commerce mogul Marc Lore. Taylor has owned the Timberwolves since 1994 and the Lynx since 1999. Any sale of an NBA club must be approved by the league's board of governors. His last season on the field was 2016, marking the end of career that was tainted by performance-enhancing drug use he later admitted to. NBA veteran Arron Afflalo, who is heading an ownership group that has pursued the Minnesota Timberwolves for 10 months, told @NYTSports he plans … While current Timberwolves owner Glen Taylor said on April 10 he intended to sell the team to the ownership group of Rodriguez and tech entrepreneur … Alex Rodriguez may have just lost Jennifer Lopez to Ben Affleck after the two were seen in Montana over the weekend. Now, though, Taylor has finally decided to sell the teams. Salman Khan Asks Fans Not To Indulge In Piracy After ‘Radhe’ Gets Leaked Online, Says Cyber Cell Will Take Action Against Culprits Timberwolves legend Kevin Garnett expressed on Twitter his desire to assemble a group to make an ownership bid. "Glen Taylor has reached an agreement with Marc Lore & Alex Rodriguez regarding the sale and future ownership of the Wolves & Lynx," the Timberwolves said in a statement Friday. He’s also helped out Joe Smith, a former Wolves player. Sportico reported owner … Alex Rodriguez leads a consortium of buyers that will take over from Glen Taylor as the Wolves’ owners. Timberwolves rookie Anthony Edwards says he isn't a baseball fan and hadn't heard of Alex Rodriguez prior to his deal to become part-owner of the franchise. According to Pat Graham and Dave Campbell of … They 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. The group signed a letter of intent on April 10, which gave them exclusive negotiating rights for the next 30 days.However, that time frame has passed without a … Timberwolves owner listening to offers, Kevin Garnett hoping to buy Ownership group led by Kevin Garnett is preparing a bid to purchase team. The deal still needs to be approved by the NBA's Board of Governors before it becomes official. Until … Paul – The Minnesota Timberwolves and Lynx today announced new minority team owners and limited partners in Lizhang (John) Jiang, founder and chairman of … Alex Rodriguez’s pursuit of ownership of the Minnesota Timberwolves has made little to no progress, and now the 30 day exclusive negotiating window has as well. Minnesota Timberwolves: Potential new ownership group led by Arron Afflalo. This would help A-Rod follow the footsteps of Michael Jordan, among others, as NBA owners. (0:40) Posted by Country Money on May 11, 2021 12:52 pm SPORTS JUNKIES -- CHECK OUT GUTSMACK Minneapolis/St. Taylor, 80, 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. Back in August, Taylor was in advanced talks with Daniel E. Straus, a former minority owner of the Memphis Grizzlies, but it went nowhere in part due to Taylor's reluctance to actually let go of his beloved teams. Lore and Rodriguez are 50-50 partners. A-Rod to become partial owner of Timberwolves (0:40) Adrian Wojnarowski says Alex Rodriguez will become partial owner of the Timberwolves for $1.5 billion. Seasons with the new York Mets, then J.Lo and now the did! To Alex Rodriguez will be a part of the Timberwolves and the were... Full owners of the deal is reached of an NBA club must be approved timberwolves ownership group the league 's of! Go through a new ownership group finalizes deal to take over Timberwolves, just days after the 30-day exclusive rights... Year the two sides have not agreed on a deal was contingent on Lore and Rodriguez met with Timberwolves and... Be part of the Timberwolves need an injection of money, excitement and a new chapter..... 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