Timberwolves Ownership Update: Alex Rodriguez and Marc Lore Missed No Deadline

The initial deadline for the $1.5 Billion sale of the Minnesota Timberwolves was deemed to be 31 December 2023. Now, a new update says that the final deadline was actually in March this year. What’s taking so long? Alex Rodriguez and Marc Lore announced in March last year that they had 40% of the Wolves and would be vying for majority control of the franchise in 2024 at the price of $1.5 Billion from Glenn Taylor.

The NBA deliberated that the deal will close after their final seal of approval. Upon which the date of the final payment was to be decided. However, that final date is now months behind us. Meanwhile, A-Rod and Lore also took funding from Carlyle Group, a Washington, DC-based investment firm, but nothing is final as of now. More recently, an update actually sheds light on the whole scenario.

Deal or no deal for Alex Rodriguez and Marc Lore?

According to a post on X by ‘JonKrawczynski’, “A point of clarification in the Timberwolves/Lynx sale process: The deadline for Marc Lore and Alex Rodriguez to make their final payment has always been the end of March. No deadline has been missed. Sources close to the group say they remain on track to complete it by then.”

Now, according to this report, it looks like there is nothing to worry about as far as Alex Rodriguez and Lore’s ownership is concerned. However, before this report, concerns about the actual completion of the deal were taking over the airwaves.According to reports, the Timberwolves’ value stands at $2.5 billion, making them the second-lowest valued team in the league among the 30 teams. However, this figure represents a nearly fourfold increase from the team’s value a decade ago.

A New Phase of the Franchise for the Timberwolves

The completion of the deal will mark a new era in Minnesota. This year, the young team has surprised the league by taking the number 1 seed for themselves well on their way to the playoffs. The team has come a long way from the days of Kevin Garnett being at the helm before eventually moving away without an NBA ring. This generation of players spearheaded by Anthony Edwards has their sights planted on the Larry O’Brien trophy and for the loyal fans, it has been a great year for the team.

Despite being young, the team has displayed its hunger to win and the change of ownership may give rise to even better things for the T-Wolves. What do you think about the new direction of the Timberwolves? Let us know your thoughts in the comments section.

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