The Minnesota Timberwolves have been in the headlines lately, during what has been a successful regular season. They are currently in third place in the Western Conference with a 47-22 record, and are on a pace that rivals their best season in franchise history. Off the court though, the story has arguably been just as interesting. Independent Minnesota sports reporter David Shama released a report Tuesday, that was later picked up by national outlets, that the pending sale of the NBA franchise could be in danger.
Back in 2021, retired baseball phenom Alex Rodriguez, along with his business partner and investor Marc Lore, signed a letter of intent to purchase the Minnesota Timberwolves from current owner Glen Taylor. Since then, Rodriguez and Lore have been paying installments toward a majority share of the team. According to the Shama report, about $600 million is due on March 27 for the final installment.
That’s where the trouble starts. The Carlyle Group, an investment fund that was going to supply around $3oo million, has just pulled out of the deal. Even if Rodriguez and company are able to find another dance partner before next weeks deadline, they would need to be approved by the NBA board of governors, who stated they had given the thumbs up to the Carlyle group.
It’s worth noting that this is not the first purchase of a major sports franchise by Rodriguez that has gone sideways. In 2020, he was in contention with his then-fiancé Jennifer Lopez to purchase the MLB’s New York Mets. The bid was ultimately unsuccessful.
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