Report: Alex Rodriguez, Timberwolves Have Yet to Reach Sale Agreement
Alex Rodriguez and the Timberwolves have yet to reach a sale agreement at the expiration of their 30-day exclusive negotiating window, according to ESPN's Brian Windhorst.
Rodriguez and his partner Marc Lore reached an agreement to negotiate a purchase of the Timberwolves on April 10. But after a month of negotiating with Minnesota owner Glen Taylor, no deal has been reached.
There is still time for a deal to be struck between Taylor and Rodriguez's group. The sides are "continuing to negotiate in good faith" and could agree to an extension for the negotiating window, per Windhorst. The potential purchase of the Timberwolves is reportedly expected to be worth around $1.5 billion.
Rodriguez's group will become full owners of the Timberwolves and the WNBA's Minnesota Lynx in 2023–24 if a deal is reached. Taylor has negotiated a potential sale of the Timberwolves with numerous ownership groups over the last decade, including Grizzlies minority owner Daniel Straus.
However, Marc Stein of The New York Times Sports reported NBA veteran Arron Afflalo—who has led an ownership group in pursuing the Timberwolves for 10 months—has launched a renewed purchases bid now that Taylor's exclusive negotiating window with Lore and Rodriguez has expired.
The expired 30-day window does not rule out Lore and Rodriguez from closing a deal. But, according to Stein, the expiration of the exclusive negotiation window means other groups, like Afflalo, could potentially re-emerge.
Afflalo's bid began for the Timberwolves in September after a former exclusive negotiating window with former Grizzlies minority owner Daniel Straus expired without striking a deal.
Minnesota enters Wednesday night sitting No. 13 in the Western Conference at 21–47.
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