Alex Rodriguez’s Bid To Buy Timberwolves, Lynx Falls Through

10:00 AM PT — Alex Rodriguez and Marc Lore are adamant they weren’t the rationale for the failed deal, releasing an announcement via their spokesperson on Thursday afternoon that learn, “We have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its process.”

“Glen Taylor’s statement,” the 2 continued, “is an unfortunate case of seller’s remorse that is short sighted and disruptive to the team and the fans during a historic winning season.”

Alex Rodriguez will not be the bulk proprietor of the Minnesota Timberwolves and Lynx in spite of everything … the orgs’ proprietor simply introduced the previous MLB star’s bid to purchase the groups has fallen via.

Glen Taylor, the present honcho of the NBA and WNBA squads, introduced the information in an announcement on Thursday morning … explaining Rodriguez and former Walmart CEO Marc Lore‘s effort to turn out to be new majority homeowners collapsed after the 2 missed a key deadline this week.

“Under terms of the purchase agreement,” Taylor mentioned within the assertion, “the closing was required to occur within 90 days following the exercise notice issued by Lore and Rodriguez. That 90-day period expired on March 27, 2024.”

“Under certain circumstances, the buyer could have been entitled to a limited extension. However, those circumstances did not occur.”

Rodriguez and Lore had beforehand purchased 40 % of the groups in prior gross sales. The newest settlement between the 2 and Taylor was set to offer them an extra 40 % of the franchises.

Taylor mentioned regardless of the failed pact, he’ll nonetheless work with Lore and Rodriguez to “ensure our teams have the necessary resources to compete at the highest levels on and off the court.”

As for going ahead, Taylor would not seem to have plans of re-entering into talks with the 2 about a purchase order … saying, “The Timberwolves and Lynx are no longer for sale.”

The Wolves presently have top-of-the-line groups within the NBA, holding a 50-22 report. The Lynx — who’ve received 4 WNBA titles — are slated to start their season this summer time.