A-Rod, Lore closing on majority ownership

Minnesota Timberwolves logo
Minnesota Timberwolves logo

(Minneapolis, MN) -- The Minnesota Timberwolves are almost officially under new ownership.

The Athletic is reporting that Marc Lore and Alex Rodriguez submitted paperwork to the NBA that will allow them to buy majority ownership of the team. Dyal Capital Partners is investing in the pair after private equity firm Carlyle dropped out earlier in the week. Lore and Rodriguez agreed to purchase the Wolves from Taylor in 2021, beginning a process of slowly buying shares of the team over the last two years. The NBA still has to formally approve the purchase, which will give A-Rod and Lore 60-percent ownership of the team.

Minnesota hosts Cleveland on Friday night.

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