Former Major League Star Loses Bid to Fully Purchase NBA Franchise

After looking like a done deal just days ago, the deal for former Major League star Alex Rodriguez to become the majority owner of the NBA's Minnesota Timberwolves has fallen through.

He will remain a minority owner of the franchise, which is no longer for sale.

Per a release from the team:

Glen Taylor, Chairman of Taylor Sports Group, Inc., the general partner of Minnesota Timberwolves Basketball Limited Partnership (“Timberwolves and Lynx”), this morning confirmed the expiration of the option of Marc Lore and Alex Rodriguez to acquire controlling interest in the Timberwolves and Lynx.

Under terms of the purchase agreement, the closing was required to occur within 90 days following the exercise notice issued by Lore and Rodriguez. That 90-day period expired on March 27, 2024.

Under certain circumstances, the buyer could have been entitled to a limited extension. However, those circumstances did not occur.

“I will continue to work with Marc, Alex and the rest of the ownership group to ensure our teams have the necessary resources to compete at the highest levels on and off the court,” said Taylor. “The Timberwolves and Lynx are no longer for sale.”

The Timberwolves are currently battling for the No. 1 seed in the NBA's Western Conference playoff race and are seeking their first championship in team history. It's unfortuante that this ownership situation will continue to overshadow what is a great story this year.

As for Rodriguez, he spent 22 years in the big leagues with the Mariners, Rangers and Yankees. He was a 14-time All-Star, a three-time MVP, a 10-time Silver Slugger, a two-time Gold Glover and a batting champion.

He ended his career with 696 home runs.

Follow Fastball on FanNation on social media

Continue to follow our Fastball on FanNation coverage on social media by liking us on Facebook and by following us on Twitter @FastballFN.