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After entering a 30-day period of exclusive negotiation talks with Glen Taylor—owner of the for-sale Minnesota Timberwolves and WNBA Minnesota Lynx—Alex Rodriguez and his bidding team were unable to reach a finalized ownership agreement. The price tag for both teams was estimated at $1.5 billion, per Forbes.
CBSSports reported that the former Yankees DH, who’s already off to a rough week, and his bidding partner Marc Lore entered discussions with the Minnesota owner in early April on heightened hopes of completing the purchase.
Today marks the end of an exclusivity period granted to A-Rod and his group after signing a letter of intent that initiated finalization of their talks along a grueling search for new ownership. Without a deal in place, the search for ownership continues with a looming question of whether the team will move out of Minnesota after an atrocious legacy under Glen Taylor.
During ongoing negotiations, partner Marc Lore assured potential suitors that the team would not be moving out of Minnesota if ownership were to be acquired by A-Rod’s group.
The breakdown of talks may be a positive bit of news for fans who were hoping for a group of investors keen on relocating the team. Placed among the lower echelon of NBA teams, the move would be a revitalizing effort for the franchise to head in a new direction altogether. Perhaps to Seattle.
Currently 13th in the Western Conference (21-47 record) as the season comes to an end, the Timberwolves are hoping that the right move in ownership could instill confidence in All-Star Karl-Anthony Towns, a buzzing name during trade discussions, while developing their young talent that includes potential ROY Anthony Edwards. The franchise has yet to reach the NBA Finals and last won a playoff round in 2004.
Perhaps it’s not too late for Timberwolves legend Kevin Garnett and his bidding team to mend their relationship with the indecisive Taylor and deliver these two franchises out of limbo.
After all, why would you show him the team if he can’t have it!
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$1.5 billion for the Timberwolves and the Lynx? Or was it $1.5 billion for the Timberwolves?