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Rodriguez And Lore Timberwolves Bid Successful

Rodriguez And Lore Timberwolves Bid Successful

Retired Major League Baseball (MLB) player Alex Rodriguez and former Walmart executive Marc Lore have reached an agreement to purchase the Minnesota Timberwolve, reported by The Athletic.

Sports reporter, Shams Charania, said that the two will purchase the National Basketball Association (NBA) team for USD$1.5 billion (AUD$1.9 billion) and will take a 50/50 split of the ownership.

The deal will also include the Women’s National Basketball Association (WNBA) team Minnesota Lynx, G League team Iowa Wolves and T-Wolves Gaming.

Owner Glen Taylor confirmed last year that he was seeking a buyer to purchase the organisation and had talks with potential buyers such as former Memphis Grizzlies minority owner, Daniel E. Straus, Minnesota Vikings owners Zygi, Mark and Leonard Wilf and former NBA players Aron Afflalo and Kevin Garnett.

The 80-year-old purchased the franchise in 1994 for USD$88 million (AUD$113 million), with this deal putting the franchise in the top ten most expensive sport teams purchases in history if it were to eventuate.

The transition will occur after the 2022-2023 season, giving Taylor two more years of ownership.

Lore and Rodriguez will have to wait until the league’s board of governors approve the purchase.

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