• Loading stock data...
Saturday, July 20, 2024
Join us this September for Tuned In Request to Attend

A-Rod, Lore May Bring On Investment Firm To Complete Timberwolves Deal

  • Alex Rodriguez and Marc Lore currently own 40% of the Minnesota Timberwolves and Lynx.
  • A global investment firm could enter the deal as a minority partner.
Jesse Johnson-USA TODAY Sports

Alex Rodriguez and Marc Lore still haven’t formally become the new majority owners of the Minnesota Timberwolves and Lynx — but help from a $382 billion global investment firm may finally push their deal across the finish line.

Rodriguez and Lore own 40% of the teams, and current Timberwolves/Lynx majority owner Glen Taylor recently said that he expected the pair to delay the deadline to make their next payment, which would give them full control.

Now, Axios reports that A-Rod and Lore are close to a deal with the Carlyle Group to bring the U.S.-based private equity company in as a minority investor in the franchises. At the time of their deal — in May 2021 — the Timberwolves and Lynx were together valued at $1.5 billion, but Carlyle would reportedly be investing at a valuation of $2.3 billion.

Since Rodriguez and Lore agreed to purchase the franchise, the Phoenix Suns have sold for $4 billion and the Charlotte Hornets for $3 billion.

Locally, the Timberwolves are partnered with Bally Sports North for this season but will likely be finding a new broadcast partner with Diamond Sports Group’s NBA deals coming to an end in 2024.

The Timberwolves are currently in first place in the Western Conference. The Lynx made the 2023 WNBA playoffs but lost in the first round.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

An artistic rendering of the new proposed Everton stadium in Liverpool.

Déjà Vu: Everton Loses Takeover Bid From U.S. Investor

The Premier League club is back on the hunt for a new owner.

WBD at a Crossroads: NBA Rights Decision Could Determine Its Future

Financial analysts argue for a large-scale overhaul of the TNT Sports parent company.

NBA’s New Money Has Josh Hart Ready to ‘Play Until My Knees Fall Off’

Hart and Jalen Brunson recently appeared on ‘Front Office Sports Today.’
podcast thumbnail mobile
Front Office Sports Today

‘EA Sports College Football 25’: It’s More Than a Game

0:00

Featured Today

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Apr 15, 2024; Brooklyn, NY, USA; Caitlin Clark poses with WNBA commissioner Cathy Engelbert after being selected with the number one overall pick to the Indiana Fever during the 2024 WNBA Draft at the Brooklyn Academy of Music.
July 16, 2024

Women’s Sports Merch Is a $4 Billion Market, but Supply Isn’t Meeting Demand

Retailers can’t make women’s sports apparel fast enough.
Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.

A Year Into Josh Harris Era, Commanders Unable to Fully Break From Past

It’s been one year since Dan Snyder sold the Washington Commanders.
July 17, 2024

Angel City FC Sale Official at Record $250 Million Valuation

Disney CEO Bob Iger and wife Willow Bay now control the club.
July 17, 2024

Braves’ Bold Plans, Political Backdrop Shape All-Star Game Prep

The Braves plan a series of upgrades to Truist Park while looking to avoid dwelling on state politics.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
Jun 23, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Pirates starting pitcher Paul Skenes (right) reacts as he talks with pitcher Jared Jones (left) after the seventh inning against the Tampa Bay Rays at PNC Park.
July 12, 2024

The Pirates Are Facing Political Pressure to Play Better

Pennsylvania state representatives call on the MLB club to boost its payroll.
Apr 12, 2024; Sacramento, California, USA; Phoenix Suns guard Grayson Allen (8) and guard Devin Booker (1) and guard Bradley Beal (3) and forward Royce O'Neale (00) and forward Kevin Durant (35) huddle up before the final seconds of the fourth quarter at Golden 1 Center.
July 12, 2024

The Suns Have Entered the NBA’s Uncharted, Punitive Territory

The NBA’s first $400 million team between payroll and projected luxury tax.
July 12, 2024

Oakland Minor League Baseball Team Experimenting With Fan Ownership

The Ballers say more than 1,000 people have registered interest.
Oct 5, 2023; Landover, Maryland, USA; Washington Commanders owner Josh Harris with fans before the game against the Chicago Bears at FedExField.
July 11, 2024

Parts of the Commanders’ Past Finding Their Way Into Harris Era

The team is developing plans to honor former logo designer next season.