ToplineFormer Yankees superstar Alex Rodriguez and e-commerce entrepreneur Marc Lore reached an agreement Thursday to purchase the NBA’s Minnesota Timberwolves from owner Glen Taylor, according to multiple reports. Alex Rodriguez, along with former fiancée Jennifer Lopez, headlined a group of investors that ... [+] unsuccessfully attempted to purchase the New York Mets in 2020. On April 10, Taylor announced he intended to sell the team to Rodriguez and Lore and that the two sides were working towards finalizing an agreement. The Lopez and Rodriguez-led group submitted a bid of $1.7 billion last July, before the team was eventually sold to hedge fund manager Steve Cohen. Further Reading:A-Rod Group Seals Deal to Purchase Timberwolves (Front Office Sports)Sources: Alex Rodriguez, Marc Lore finalizing deal to buy Minnesota Timberwolves, WNBA's Lynx (ESPN)

Source: Forbes May 13, 2021 19:18 UTC