Former Major League Baseball star Alex Rodriguez and tech mogul Marc Lore are close to completing a $1.5 billion deal to buy the NBA’s Minnesota Timberwolves, multiple US media outlets reported Thursday.
The Minneapolis Star Tribune reported that Timberwolves owner Glen Taylor, 80, has an agreement on the sale of the NBA team and the WNBA’s Lynx, although neither party has publicly announced an agreement.
The Star Tribune, citing an unnamed source, reported that Rodriguez and Lore are 50-50 partners in the deal, which would have to be approved by the NBA’s Board of Governors.
Taylor has said that any deal to sell the team would include a commitment to keep the club in Minnesota.
ESPN reported that Taylor, who bought the club in 1994 for $88 million to prevent them from moving to New Orleans, has said he intends to continue to run the club for two more seasons, eventually handing over full control in 2023.
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