Alex Rodriguez and Marc Lore didn’t agree to buy the Timberwolves during a 30-day exclusive negotiating window.
But that just allowed Timberwolves owner Glen Taylor one last tease after so many false alarms.
It seems Taylor will actually sell to Rodriguez and Lore.
Shams Charania of The Athletic:
Former MLB star Alex Rodriguez and tech entrepreneur Marc Lore have reached agreement to purchase the Minnesota Timberwolves from Glen Taylor for $1.5 billion, sources tell @TheAthletic @Stadium.
— Shams Charania (@ShamsCharania) May 13, 2021
Rodriguez and Lore are expected to sign formal paperwork shortly, and sources say A-Rod and Lore are equal, 50-50 partners in the purchase. https://t.co/9u5GqadCLH
— Shams Charania (@ShamsCharania) May 13, 2021
It’s unclear when Rodriguez and Lore will take over. At times, the plan appeared for them to initially purchase a minority stake with a path toward full control in a couple years.
The Timberwolves could have a bright future with Karl-Anthony Towns, Anthony Edwards, D’Angelo Russell and Malik Beasley. But Towns – who can become an unrestricted free agent in 2024 – is already itching for more. Plenty of teams would love to poach him.
It could be tricky set and fulfill a vision for the franchise with ownership in limbo. It’d be better if there’s a clean break.
But Taylor seemingly wants to maintain some control, especially keeping the team in Minnesota.
At this point, preventing the team from moving might be the best chance for Taylor to preserve his legacy, at least locally.
In Taylor’s 25 years as owner – most of them with Kevin Garnett – the Timberwolves advanced in the playoffs only one season. Minnesota has made the playoffs at all only once in the last 17 years.
Taylor has made numerous embarrassing gaffes – hiring David Kahn, giving Andrew Wiggins an ill-fated max-contract extension only after Wiggins promised Taylor to work really hard, letting the organizational culture deteriorate. A feud with Garnett has turned ugly.
Though Taylor made far more friends while in charge, this ownership change should be welcome for the franchise.