Former Major League Baseball (MLB) star Alex Rodriguez and billionaire Marc Lore, are favourites to become the new owners of the National Basketball Association (NBA) franchise Minnesota Timberwolves.
The duo could see themselves become co-owners of the NBA franchise, which will also include WNBA’s side, Lynx, over the course of two years together with Glen Taylor, after they had failed to win the bid for the New York Mets.
Reports suggest that the club is valued at US$1.5 billion, after Taylor had bought it for US$88 million back in 1994, to save it from moving to New Orleans.
It has been reported that the 79-year old Timberwolves owner has announced that the club is for sale before the 2020-21 season had even started.
Earlier this year, Taylor talked to the Pioneer Press in Minnesota about the search for a new owner: “I haven’t found anything that for sure says I should move ahead. The other question: Is now a good time to sell when you don’t have fans? And it’s not a good time.”
This season, the Timberwolves are currently holding the worst record in the NBA season at 14-41.
Taylor has been trying to help the club throughout the years with its struggles, also by bringing in star center Karl-Anthony Towns and this year’s draft’s number one pick Anthony Edwards.
Coach Ryan Saunders was also replaced by Chris Finch during this season.
The club currently has a lease which runs till the 2034-35 at the Target Center in Minneapolis and Taylor seems to have found a deal with Rodriguez and Lore to keep the club at home.
He had told the Star Tribune, “They will keep the team here, yes. We will put it in the agreement. At this point we have a letter of intent, but when we make up the contract we’ll put that in there. That’s no problem. That won’t be a problem.”
Rodriguez and Lore now have a 30-day negotiating period to finalise the purchase and have issued a statement saying: “We look forward to entering this phase of the process with Glen Taylor. Our respect for him and the legacy he has built lays an amazing foundation for what is to come. We are excited by the prospect of getting to know the Timberwolves organisation, the talented team, and their incredible fans.”
Author: Catherine Micallef