NEW YORK – Retired Major League Baseball star Alex Rodriguez and businessman Marc Lore have reached a deal to buy the Minnesota Timberwolves from the NBA, the team announced Friday.
The deal, which must be approved by the NBA Board of Governors, also includes the purchase of the NBA Women’s Minnesota Lynx.
“Glen Taylor has reached an agreement with Marc Lore and Alex Rodriguez regarding the sale and future ownership of the Timberwolves and Lynx,” the T-Wolves said in a statement.
“The deal will close after league approval, starting the ownership transition and a new chapter of Minnesota Timberwolves and Lynx basketball.”
The deal, reportedly worth $ 1.5 billion, would give Lore and Rodriguez each 50% of the NBA club, which Taylor had owned since 1995.
Rodriguez helped the New York Yankees win the 2009 World Series title and has been an MLB infielder 14 times. In 2009, he admitted to taking banned steroids from 2001 to 2003 while playing for the Texas Rangers.
At 22-48, the Timberwolves were eliminated from the Western Conference playoffs, placing 13th of 15 clubs.
The Timberwolves have only made the playoffs once since 2004, losing to Houston in the first round in 2018.
The only two playoff victories in franchise history, dating from the 1989-90 NBA season, came in 2004, when the T-Wolves reached the Western Conference Finals but lost to the Lakers in Los Angeles.
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