NBA: Alex Rodriguez Group Reaches Agreement to Buy Minnesota Timberwolves for $1.5B; Report

NBA News: Former MLB star Alex Rodriguez reportedly has a deal in place to purchase the Minnesota Timberwolves.

According to Shams Charania of The Athletic and Stadium, Glen Taylor has agreed to sell the Timberwolves to an ownership group led by Rodriguez and tech entrepreneur Marc Lore for $1.5 billion.

NBA: Taylor announced on April 10 that Rodriguez and Lore had signed a letter of intent to buy the NBA franchise. It was also reported at the time that the sale was expected to include the WNBA’s Minnesota Lynx.

Per Charania, Rodriguez and Lore will be equal partners in the purchase, and they are expected to sign the official paperwork “shortly.”

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NBA: Taylor will continue to hold full control of the Minnesota Timberwolves for two years before Rodriguez and Lore take over 2 years later.

Rodriguez and Lore issued a joint official statement on the deal that read: “We look forward to entering this phase of the process with Glen Taylor. Our respect for him and the legacy he has built lays an amazing foundation for what is to come. We are excited by the prospect of getting to know the Timberwolves organization.

In 22 MLB seasons with the Seattle Mariners, Texas Rangers, and New York Yankees, A-Rod was a 14-time All-Star, three-time American League MVP, and one-time World Series champion, who recorded 3,115 hits and 696 home runs.

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The Minnesota Timberwolves announced the hiring of Toronto Raptors assistant coach Chris Finch as their next coach. Finch has 24 years of coaching experience, roughly half of that in Europe.

The two-time NCAA Division III All-American at Franklin & Marshall College in Pennsylvania played for the Sheffield Sharks in the British Basketball League and later coached the same team from 1997-2003.

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