Alex Rodriguez and Marc Lore buying majority stake in Timberwolves

Alex Rodriguez and Marc Lore are flipping their minority stake in the Minnesota Timberwolves into a controlling share of the NBA franchise.

According to reports, the former MLB player and his business partner will be exercising their option to purchase a majority share of the team as soon as British News Today.

The group has a New Year’s Eve deadline to opt into this agreement – which will also see them take over the WNBA’s Minnesota Lynx.

Rodriguez and Lore initially purchased a 20 percent stake in the team back in July of 2021, increasing their stake to 40 percent last year.

The agreement back in 2021 was struck with the intention of Rodriguez and Lore to take over the team completely in this time frame.

Marc Lore (left) and Alex Rodriguez (right) will buy a majority stake in the Timberwolves

Lore (right center) and Rodriguez (right) are buying the team from Glen Taylor (left)

Under 29 years of ownership by Taylor, the T-Wolves made the playoffs eleven times

The action formalizes intent to purchase additional 40 percent of franchise from Taylor and give Lore and Rodriguez 80 percent of teams and the majority ownership by early 2024.

— Adrian Wojnarowski (@wojespn) December 28, 2023

The current majority owner of the team, Glen Taylor, has been in charge of the Timberwolves since 1994 and has owned the Lynx since its formation in 1999.

Under Taylor’s ownership, the Timberwolves have made the playoffs in eleven of 29 seasons.

But that includes seven straight eliminations in the first round from the 1996-97 season to the 2002-03 season.

In fact, of those eleven playoff appearances, only one didn’t end in the first round – in the 2003-04 season when they reached the Western Conference Finals but lost in six games to the Los Angeles Lakers.

As for the Lynx, they’ve won four WNBA titles in the odd-numbered years from 2011-2017 – led by players like Seimone Augustus, Maya Moore, and Sylvia Fowles.

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