Business of Sports
A-Rod, Marc Lore Won’t Buy Controlling Stake in NBA’s Timberwolves
- Deal originally struck at $1.5 billion valuation in 2021
- Timberwolves and Lynx are no longer for sale: statement
Marc Lore and Alex Rodriguez
Photographer: David Berding/Getty ImagesThis article is for subscribers only.
Minnesota Timberwolves minority owners Marc Lore and Alex Rodriguez have failed in their drawn-out attempt to take over the National Basketball Association franchise and its WNBA counterpart Lynx.
The option for the investors to acquire a controlling interest has expired, according to a statement from the team. Lore and Rodriquez had 90 days to close a deal under the terms of their agreement.