Marc Lore and Alex Rodriguez are “expected to exercise their option to acquire controlling ownership interest” of the T’Wolves and WNBA's Lynx. Sources said that Lore and Rodriguez, who have a Dec. 31 deadline for a decision, “will be formalizing an intent to purchase a final 40% of the NBA and WNBA franchises” from Glen Taylor -- giving Lore and Rodriguez “80% total of the two teams by early 2024.” The two “still have more time to raise the necessary money to complete the majority purchase,” which will be subject to NBA BOG approval. This filing is “expected to close a process that began in April 2021” for Lore and Rodriguez to purchase the Minnesota teams in installments from Taylor. Taylor keeps a 20% share in the team -- “with an option to sell the rest to Lore and Rodriguez later” (ESPN.com, 12/28).
Sources said that former Google CEO Eric Schmidt is "among those joining" Rodriguez and Lore in the next round of their purchase of the T'Wolves, while private equity giant Carlyle Group also is "in talks to contribute money" (SPORTICO, 12/28).
Alex Rodriguez and Marc Lore have a Dec. 31 deadline to purchase a final 40% of the NBA and WNBA franchisesGetty Images
