Here’s the latest on the pending sale of the Minnesota Timberwolves, via the Star Tribune:
Glen Taylor has been close a few times to selling his stake of the Timberwolves, but no deal has crossed the finish line.
That appears to be changing.
Taylor, 80, has an agreement for the $1.5 billion sale of the Wolves and Lynx to former baseball star Alex Rodriguez and tech entrepreneur Marc Lore, a source confirmed.
The sides previously agreed to a 30-day exclusive negotiating window last month, but talks between the sides never ceased when that window expired nor were there any major stumbling blocks to getting a deal done. An announcement sealing the deal could come soon.
The next step in the process will be to have the NBA approve the sale, which is likely to take weeks.
The Timberwolves are 22-48 this season, though of course that has little bearing on a team’s value. NBA teams have massive and still-growing value, and the chance to own one is an incredible opportunity.
