Published 1 month ago

A-Rod, Lore lose backing in deal for Timberwolves

Summary by Ground News

Alex Rodriguez and Marc Lore have one payment left to claim majority ownership of the Timberwolves. The payment was set to close a process that began in April 2021. Lore and Rodriguez previously purchased two installments of 20% at a $1.5 billion valuation. They exercised their rights to buy an additional 40% of the franchise earlier this year.

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The Business Journals

Timberwolves sale to Rodriguez, Lore loses key financing, Glen Taylor says

Alex Rodriguez and Marc Lore, who had planned to lock in majority ownership of the Minnesota Timberwolves and Lynx this month, have lost an important financial backer with a key deal deadline just a week away.

1 month ago·United States

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ESPN

A-Rod, Lore lose backing in deal for Timberwolves

Alex Rodriguez and Marc Lore have lost the financial backing of the Carlyle Group with one payment left to claim majority ownership of the Minnesota Timberwolves and Lynx.

1 month ago·United States

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Outkick

A-Rod Reportedly In Danger of Losing Bid For Minnesota Timberwolves

Yankees legend Alex Rodriguez and his investing partner Marc Lore are in danger of not completing their purchase of the Minnesota Timberwolves.According to new reports, A-Rod and Lore owe Timberwolves owner Glen Taylor a final payment of $600 million. The sale of the Timberwolves and Minnesota Lynx of the WNBA was estimated at $1.2 billion.RELATED: A-Rod's Bid for Minnesota Timberwolves Reaches End Without Deal in PlaceThe investing tandem has u…

1 month ago·Nashville, United States

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