The former player of the New York Yankees, Alex Rodriguezhe still hasn’t achieved the goal to have with his partner Marc Lore to have majority ownership of the The Minnesota Timberwolvesand according to a report the negotiation to complete the purchase is in danger due to having lost support.
A-Rod y Lore They began the acquisition process in 2021, with two 20% shares worth $1.5 billion, and at the beginning of 2024 they exercised their right to acquire an additional 40% of the franchise.
The transaction was priced at $1.2 billion for Timberwolves y Minnesota LynNBA of the WNBA. A-Rod and Lore owe the owner Glen Taylor $600 million for the final payment to become majority owners.
A-Rod and Lore are counting down for the Timberwolves
The deadline to close the payment expires on March 27 and according to the reporter’s report David Shama, Taylor He revealed that the Rodríguez-Lore duo needs to find resources to fulfill the commitment.
“They had a capital group that was going to come in and put up $300 million, and that capital group has withdrawn or the NBA has denied it,” he said. Taylor a Shamaadding that now they will have to look for new income.
Taylor It refers to Carlyle investment group and although information emerged about an impediment from the league to which Alex Rodriguez y Lore They will close that company due to the investment rules, Sporty reported that the NBA told them in a statement that it “did not reject Carlyle’s proposed investment.”
And Carlyle is rejected by the league, A-Rod y Lore They have one week to find the financing to move to the next stage which will require the approval of the NBA Board of GovernorsHowever, there is still hope, as the Daily Mail reported that a spokesperson for Alex Rodriguez They told him that they remain confident that the last payment will be made.
2024-03-20 13:12:40
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