Glen Taylor has revealed startling details on the sale to Marc Lore and Alex Rodriguez.

Glen Taylor has revealed startling details on the sale to Marc Lore and Alex Rodriguez.

It doesn’t seem like Alex Rodriguez and Marc Lore will be taking over the ownership of the Minnesota Timberwolves anytime soon.

Owner Glen Taylor was reportedly selling the Timberwolves and Lynx to a company headed by Rodriguez and Lore for a controlling stake. This information has been known for a while.

Taylor was in conversation with Matt Stanton of the team’s official website as of Thursday morning. “The expiration of Marc Lore and Alex Rodriguez’s option to acquire controlling interest in the Timberwolves and Lynx,” Taylor verified to him.

The two parties’ acquisition agreement stated that the transaction was intended to close ninety days after Lore and Rodriguez sent out an exercise notice. On March 27, 2024, the period ended without a contract being approved.

In certain situations, Lore and Rodriguez might have been eligible for a “limited extension.” The statement did not, however, imply that the events took place.

“To guarantee our teams have the resources to compete at the highest levels both on and off the court, I will continue to work with Marc, Alex, and the rest of the ownership group,” Taylor said to Stanton. “The Lynx and Timberwolves are off the market.”

Over the course of two years, since a possible sale was initially mentioned, Taylor’s connection with his major purchasers, Rodriguez and Lore, had “disintegrated,” according to ESPN insider Adrian Wojanrowski.

Additionally, Lore and Rodriguez had been successful in raising the $1.5 million that was agreed upon in May 2021, which was the amount needed for the deal. However, because the potential buyers could not fulfill their end of the bargain, Taylor’s side pulled out of the agreement.