A-Rod, Lore closing on majority ownership

Minnesota Timberwolves logo
Minnesota Timberwolves logo

(Minneapolis, MN) -- The Minnesota Timberwolves are almost officially under new ownership.

The Athletic is reporting that Marc Lore and Alex Rodriguez submitted paperwork to the NBA that will allow them to buy majority ownership of the team. Dyal Capital Partners is investing in the pair after private equity firm Carlyle dropped out earlier in the week. Lore and Rodriguez agreed to purchase the Wolves from Taylor in 2021, beginning a process of slowly buying shares of the team over the last two years. The NBA still has to formally approve the purchase, which will give A-Rod and Lore 60-percent ownership of the team.

Minnesota hosts Cleveland on Friday night.

Suggested

Minnesota Timberwolves logo
Timberwolves crush short-handed Pelicans
Thu, Nov 9th, 2023 - 6:07am
WNBA + Minnesota Lynx logos
WNBA 2024 Draft recap, Lynx select a pair
Tue, Apr 16th, 2024 - 6:55am
Minnesota Lynx logo
Lynx lose to Seattle
Mon, Aug 21st, 2023 - 10:01am
Minnesota Timberwolves Logo
Wolves push past Thunder late
Tue, Jan 30th, 2024 - 6:04am