Report: Alex Rodriguez, Marc Lore Purchase of T-Wolves Still on Track to Be Completed

There remains optimism that the Minnesota Timberwolves will be sold to a group of investors that includes former American League MVP Alex Rodriguez and businessman Marc Lore. 

Per Jon Krawczynski of The Athletic, all parties involved in the negotiations "remain confident that a deal is on track to be completed."

Krawczynski reported on April 10 that Rodriguez and Lore signed a letter of intent to purchase the T-Wolves from Glen Taylor. That gives them an exclusive 30-day negotiating window to finalize a deal. 

“We look forward to entering this phase of the process with Glen Taylor," Rodriguez and Lore said in a joint statement at the time, via ESPN's Adrian Wojnarowski. "Our respect for him and the legacy he has built lays an amazing foundation for what is to come. We are excited by the prospect of getting to know the Timberwolves organization, the talented team and their incredible fans.”

If a deal gets done, Rodriguez and Lore would serve as limited partners with Taylor for the next two seasons before fully taking over in 2023-24. 

While a price has not been determined at this point, Mike Ozanian of Forbes reported in November that the T-Wolves and Minnesota Lynx of the WNBA, who are also owned by Taylor, could be sold for $1.5 billion. 

The 30-day negotiating window will expire after May 10. 

Rodriguez currently works as a color commentator for ESPN's Sunday Night Baseball. He played 22 MLB seasons with the Seattle Mariners, Texas Rangers and New York Yankees from 1994-2016. 

Lore most recently served as CEO of Walmart U.S. eCommerce. He co-founded eCommerce company Jet.com in 2014.

Taylor has been the T-Wolves majority owner since 1994. He has owned the Lynx since their inaugural season in 1999.