Timberwolves owner Glen Taylor said the team is 'no longer for sale' after Alex Rordriguez and Marc Lore didn't complete the purchase during the 90-day window.
Alex Rodriguez and Marc Lore are no longer set to become the controlling owners of the Minnesota Timberwolves and the Minnesota Lynx. The 90-day period for Rodriguez and Lore to close the sale expired on Wednesday, the Timberwolves announced on Thursday. Glen Taylor will remain the controlling owner of the team, he shared in a statement.
The relationship between the Rodriguez/Lore partnership and Taylor has also disintegrated over the last two-plus years, ESPN reported. The prospective buyers of the franchises wound up raising enough money to purchase a controlling interest, but Taylor believes they didn't meet contractual deadlines during the process, ESPN added in its report. Rodriguez and Lore entered an agreement to buy a majority stake in the Timberwolves and Lynx in April 2021 for a $1.5 billion valuation.
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