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Marc Lore: T-Wolves Sale with Alex Rodriguez Getting 'Close to the Finish Line'

Rob Goldberg@@TheRobGoldbergFeatured Columnist IVMay 12, 2021

FILE - In this July 11, 2017, file photo, former Major League Baseball player Alex Rodriguez reports from the field during the MLB baseball All-Star Game in Miami. Rodriguez, among four groups of bidders for a possible purchase of the New York Mets, called for baseball players to accept the type of revenue-sharing system that is tied to a salary cap and sparked quick opposition from the union. (AP Photo/Lynne Sladky, File)
AP Photo/Lynne Sladky, File

Alex Rodriguez and Marc Lore are still in pursuit of purchasing the Minnesota Timberwolves from owner Glen Taylor, and they believe they are close.

Lore told Matthew Boyle of Bloomberg that talks were "ongoing, and going well."

"We’re getting close to the finish line," the tech entrepreneur added.

The confidence comes despite the duo's 30-day exclusive negotiating window with Taylor coming to an end without a deal, per Brian Windhorst of ESPN. The two sides reportedly continue to "negotiate in good faith" and could reach an extension on the exclusive window.

The purchase price for the Timberwolves is expected to be about $1.5 billion, although Taylor has entered exclusive negotiating windows with other prospective buyers in the past without selling the team.

Rodriguez was also part of a failed attempt to purchase the New York Mets alongside former fiancee Jennifer Lopez, but the team was eventually sold to Steve Cohen.

There will also be competition for the Timberwolves with the exclusive window closed. Former NBA player Arron Afflalo is part of an ownership group that plans to relaunch its bid for the basketball team, per Marc Stein of the New York Times.

In the meantime, Lore and Rodriguez launched a new venture capital firm Wednesday called Vision/Capital/People with $50 million of their own money.

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