Former Major League Baseball star Alex Rodriguez and billionaire Marc Lore have yet to seal a deal to buy the Minnesota Timberwolves following a 30-day exclusive negotiating window, according to ESPN.
The pair reportedly continue to negotiate with current owner Glen Taylor.
Rodriguez and Lore were granted a 30-day exclusive negotiating window on April 10 and have spent time meeting with team personnel and touring the facilities during that time.
The Athletic reported an agreement was reached on a $1.5 billion price and that the team would remain in Minneapolis — a requirement from Taylor, who has owned the team for almost 30 years.
Rodriguez and Lore would first become minority owners, according to The Athletic, and in 2023, would gain full control.
The deal would also reportedly include the WNBA’s Minnesota Lynx.
Rodriguez attempted last year to buy the New York Mets alongside ex-fiancee Jennifer Lopez, and Lore was among the other partners in that bid.
Lore, a billionaire New York native, stepped down as Walmart CEO in January. The former entrepreneur created Jet.com (sold to Walmart for $3 billion) and Diapers.com (sold to Amazon for $545 million), among other business ventures.
–Field Level Media
