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Glen Taylor will stay as controlling proprietor of the Minnesota Timberwolves after Marc Lore and Alex Rodriguez didn’t shut on their choice by the March twenty seventh deadline.
Lore and Rodriguez agreed to buy the Wolves in 2021 at a valuation of $1.5 billion. The deal allowed them to buy 20 p.c of the workforce in July 2021, 20 p.c extra in 2022 and 40 p.c extra in 2023.
Lore and Rodriguez had been anticipated to have Dyal Capital Companions finance the ultimate buy.
“I’ll proceed to work with Marc, Alex and the remainder of the possession group to make sure our groups have the required assets to compete on the highest ranges on and off the court docket,” stated Taylor. “The Timberwolves and Lynx are not on the market.”
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