Report: Alex Rodriguez-Led Group Hasn't Closed Timberwolves Purchase

Mike Chiari@mikechiariFeatured ColumnistMay 11, 2021

Former professional baseball player and entrepreneur Alex Rodriguez speaks at OZY Fest in Central Park on Saturday, July 21, 2018, in New York. (Photo by Evan Agostini/Invision/AP)
Evan Agostini/Associated Press

The group led by former MLB star Alex Rodriguez reportedly hasn't yet closed the deal on purchasing the NBA's Minnesota Timberwolves

According to ESPN's Brian Windhorst, the 30-day exclusive negotiating window that the group headed by Rodriguez and Marc Lore had with Timberwolves governor Glen Taylor ended without an official agreement coming to pass.

Windhorst noted that while an extension of the window is possible, none has occurred yet, although Taylor continues to negotiate with Rodriguez and Lore.

Per Dave Campbell of the Associated Press, Taylor announced his intention to sell the team, as well as the WNBA's Minnesota Lynx, to Rodriguez and Lore on April 10.

Jon Krawczynski of The Athletic reported at the time that the sale price was expected to be $1.5 billion.

Windhorst noted that the original plan was for Rodriguez and Lore to buy the team in phases over the next two years before taking full control for the 2023-24 season. Included in the negotiations was reportedly a certain date that Rodriguez and Lore wanted Taylor to give them controlling governorship.

This isn't the first time Taylor has entered into an exclusive negotiating window having announced his intention to sell the Timberwolves on multiple occasions.

Last year, Taylor negotiated with former Memphis Grizzlies minority owner Daniel Straus, but the talks didn't end in a sale.

The Timberwolves' 2020-21 season is winding down, and they sit 13th in the Western Conference with a 21-47 record. Minnesota is set to miss the playoffs for the third year in a row and the 16th time in the past 17 seasons.

Despite that, there is some excitement surrounding the franchise due to the presence of Karl-Anthony Towns, Anthony Edwards and D'Angelo Russell, plus a high pick in the first round of the 2021 NBA draft, as well as the possibility of new governors.