Skip to main content

Reports: A-Rod, Lore reach agreement to buy Timberwolves, Lynx from Glen Taylor

The deal was first reported to be in the works on April 10.

Multiple reports say billionaire businessman Glen Taylor has reached an agreement to sell the Minnesota Timberwolves and Lynx to Alex Rodriguez and Mark Lore. 

According to The Athletic's Shams Charania, the sale price is for approximately $1.5 billion. Front Office Sports was the first to report that an agreement was in place, adding that the expected sale price was "about $1.5 billion." 

Rodriguez is a former MLB All-Star who now owns numerous companies through his A-Rod Corp. holding company. Lore is a tech entrepreneur and the former e-commerce chief of Walmart. 

Rodriguez and Lore were first reported to be finalizing a deal for the Timberwolves and Lynx in early April, when The Athletic's Jon Krawczynski reported that Taylor would continue controlling the franchises for two years before Rodriguez and Lore take over in 2023. 

It's unclear if that piece of the deal is still in place. 

Krawcyznski also originally reported that Taylor had orchestrated the deal to ensure the Timberwolves don't relocate. That, too, is unconfirmed. 

More to come. 

Next Up

Screen Shot 2023-01-27 at 7.45.44 PM

Tyre Nichols: Initial police version of events bear similarities to George Floyd killing

Memphis PD said Nichols complained of 'shortness of breath' following 'confrontations' with police, who in reality violently beat him.

George Floyd, protest

Twin Cities authorities preparing for community reaction to Tyre Nichols video

The ATF division in St. Paul sent out an alert out of "an abundance of caution."

Screen Shot 2023-01-27 at 2.12.05 PM

Changes at K102's Chris Carr & Company, with Sam Sansevere joining as co-host

She is the daughter of former KQRS morning show personality Bob Sansevere.

Screen Shot 2023-01-27 at 1.16.21 PM

Minneapolis' Royal Foundry Craft Spirits announces closure

The distillery set out to infuse the Minneapolis craft cocktail scene with British flavor.

ShutterflyGoogle

Shutterfly to cut almost 100 jobs at Shakopee facility

The layoffs are expected to impact multiple positions within the company.

millcitymuseum_hr1

Mill City Museum in the running to be named best history museum in the U.S.

The museum offers scenic views of the Mississippi River.

HolmgrenMugRamseyCo

Man charged with attempted murder of White Bear Lake police officer

Daniel Holmgren Jr., 33, was being served an arrest warrant at the time of the incident.

image

Gallery: 1,000-acre Wisconsin resort listed for nearly $4.3M

The lush landscape features a creek and private lake.

school bus

Alert after Woodbury students approached by strangers asking if they want candy

Valley Crossing Elementary School urged parents to go over safety information with their children in response to the incident.

basketball unsplash stock

North St. Paul basketball cancels Eden Prairie game after opposing coach's reinstatement

Head Coach Cornelius Gilleylen said he let his players decide amongst themselves.

Related

Glen Taylor

Report: Taylor selling Wolves, Lynx without relocation protection

The top minority shareholder has filed a lawsuit against Taylor.

Alex Rodriguez

A-Rod, Lore, Taylor don't take questions about Rosas, Simmons

They did discuss how they see a bright future in Minnesota.

Alex Rodriguez

Reports: Alex Rodriguez part of group finalizing deal to buy Wolves, Lynx

The former MLB will become part-owner of the Wolves and Lynx.

Marc Lore, Alex Rodriguez

Marc Lore, Alex Rodriguez officially own 20% of the Wolves, Lynx

They'll purchase another 60% of the franchises within two years, according to a report.