Alex Rodriguez and billionaire partner Marc Lore get major news on their troubled $1.5b Timberwolves purchase

Alex Rodriguez and billionaire partner Marc Lore get major news on their troubled $1.5b Timberwolves purchase

Baseball legend Alex Rodriguez and business partner Marc Lore are finally on the verge of acquiring the Minnesota Timberwolves from owner Glen Taylor four years after first agreeing to purchase the NBA team and its WNBA sister club for $1.5 billion.

ESPN’s Shams Charania is reporting Taylor does not plan to appeal a 2-1 arbiters’ ruling in favor of Rodriguez and Lore, who have been in a bitter feud with the outgoing owner. Most importantly, the $1.5 billion price tag will remain the same, according to Charania. 

Taylor previously accused the pair of missing a payment in their structured purchase of the teams, while Rodriguez and Lore accused him of having seller’s remorse.  Forbes currently estimates the Timberwolves’ value to be around $3.1 billion.

DailyMail.com has reached out for confirmation to the Timberwolves and a spokesman for Rodriguez. 

Rodriguez and Lore still had $942 million to pay to Taylor as of February, according to a Sportico report at the time.

Baseball legend Alex Rodriguez (right) and business partner Marc Lore (left) are finally on the verge of acquiring the Minnesota Timberwolves from owner Glen Taylor

Baseball legend Alex Rodriguez (right) and business partner Marc Lore (left) are finally on the verge of acquiring the Minnesota Timberwolves from owner Glen Taylor

Majority owner Glen Taylor of the Minnesota Timberwolves looks on in the third quarter against the Denver Nuggets at Target Center on November 1

Majority owner Glen Taylor of the Minnesota Timberwolves looks on in the third quarter against the Denver Nuggets at Target Center on November 1

Read More Livvy Dunne reveals why her relationship with Paul Skenes nearly ended early on article image

Rodriguez has called Taylor’s misgivings ‘f***ing childish’ during an interview with Sportico, while Lore has described the sale as a ‘matter of time’ and ‘how much pain Glen wants to put the fans, the players, the town and community through.’

‘It’s his choice,’ Lore continued. ‘It didn’t have to be this way.’

Further exacerbating matters was a report by ESPN that Taylor was concerned about Lore and Rodriguez’s plans to cut payroll dramatically.

The Timberwolves are already $132 million over the NBA’s soft salary cap for the 2024-25 season – more than any other team in the league.

Minnesota fell to the Dallas Mavericks in last year’s Western Conference Finals.

This season the team has taken a step back and is currently in seventh place in the Western Conference. And unless Minnesota can move up over the season’s final six games, the Timberwolves will be forced into the play-in tournament in order to advance to the postseason.

Related Posts

New York Knicks identify top candidate for head coach job

New York Knicks identify top candidate for head coach job

The New York Knicks are reportedly zeroing in on current Dallas Mavericks head coach Jason Kidd to fill its bench-boss vacancy after firing Tom Thibodeau earlier this…

Ben Simmons’ injury hell continues as he is ruled out for the rest of the SEASON with ongoing back issue… and Nets say he’ll ‘consult specialists and explore treatment options’

Ben Simmons’ injury hell continues as he is ruled out for the rest of the SEASON with ongoing back issue… and Nets say he’ll ‘consult specialists and explore treatment options’

Most watched Sport videos Brooklyn Nets point guard Ben Simmons has been ruled out for the rest of the NBA season. On Thursday morning, Shams Charania reported…

NBA legend Charles Barkley lets rip at Joe Biden and the Democrats and claims they ‘only care about black people every four years’ – as he reveals which party he’s voted for in the past

NBA legend Charles Barkley lets rip at Joe Biden and the Democrats and claims they ‘only care about black people every four years’ – as he reveals which party he’s voted for in the past

Most watched Sport videos Charles Barkley has accused US President Joe Biden and the Democratic Party of only caring about black voters ‘every four years’ before an election. Barkley,…

REVEALED: Woman who pH๏τobombed Steph Curry’s iconic golf celebration is a 0-an-hour ESCORT – and jokes she needs to go to NBA games ‘fully clothed’ in future after going viral on social media

REVEALED: Woman who pH๏τobombed Steph Curry’s iconic golf celebration is a $900-an-hour ESCORT – and jokes she needs to go to NBA games ‘fully clothed’ in future after going viral on social media

Most watched Sport videos The woman who went viral for inadvertently pH๏τobombing Steph Curry’s iconic golf celebration has revealed herself to the mᴀsses. On Wednesday, the Golden…

Timberwolves star Anthony Edwards hits his head ON THE RIM as he makes game-saving block vs. Pacers… but Minnesota loses Karl-Anthony Towns to knee surgery for at least four weeks

Timberwolves star Anthony Edwards hits his head ON THE RIM as he makes game-saving block vs. Pacers… but Minnesota loses Karl-Anthony Towns to knee surgery for at least four weeks

Most watched Sport videos Anthony Edwards miraculously hit his head on the rim Thursday in Indianapolis while making a game-saving block in the Minnesota Timberwolves’ win over…

Nuggets outlast Celtics in possible NBA Finals preview, 115-109, as Nikola Jokic stars with 32-point triple-double

Nuggets outlast Celtics in possible NBA Finals preview, 115-109, as Nikola Jokic stars with 32-point triple-double

Most watched Sport videos In a potential NBA Finals preview, the Nuggets beat the Celtics on Thursday night, defeating their Eastern Conference foes 115-109. Nikola Jokic helped…