Former Major League Baseball player Alex Rodriguez and billionaire Marc Lore are finalizing a deal to buy the Minnesota Timberwolves from majority owner Glen Taylor, sources told ESPN.
As Adrian Wojnarowski reported on his Twitter account, @wojespn, Taylor will continue to have full control of the team for two years before Rodriguez and Lore take over in 2023.
Former Major Leaguer Alex Rodriguez and billionaire Marc Lore finalize a deal to buy the Minnesota Timberwolves from majority owner Glen Taylor, sources told ESPN. Taylor will continue full control of the team for two years before Rodriguez and Lore take over in 2023.
– Adrian Wojnarowski (@wojespn) April 10, 2021
“We look forward to entering this phase of the Glen Taylor trial. Our respect for him and the legacy he has built lay an incredible foundation for what is to come. We are delighted with the prospect of meeting the organization, the talented team and their incredible fans, “said ARdo and Lore together.
The purchase price in the transaction is expected to be in the range of $ 1.5 billion, according to ESPN sources.
When Taylor bought the franchise in 1995, the price was $ 88 million.