Legendary athlete Alex Rodriguez of the New York Yankees is still on track to collaborate with Marc Lore to control the majority of the Minnesota Timberwolves. However, a rumor claims that the agreement to finalize the purchase is in peril because it has lost support as
A-Rod, as he is affectionately known, and Lore started the buying process in 2021 with two $1.5 billion 20% installments, and they exercised their option to purchase an additional 40% of the team at the start of 2024. The Timberwolves set the price of the deal at $1.2 billion.
“Taylor informed David Schama that they had an equity group scheduled to arrive and contribute $300 million.” And either the NBA rejected them or that equity group withdrew.
Taylor is alluding to the Carlyle investment firm. However, despite reports that the league was keeping Alex Rodriguez and Lore from terminating their collaboration due to investment regulations,
Despite Taylor’s claims, Sportico reported that the NBA informed them in a statement that it “did not reject Carlyle’s proposed investment.” If Carlyle is rejected by the league, A-Rod and Lore have one week to secure the funding to proceed to the next round, which will need approval from the NBA Board of Governors.
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