Alex Rodriguez's Bid To Buy Timberwolves, Lynx Falls Through
Alex Rodriguez's bid for the Minnesota Timberwolves and Lynx has fallen through. Alex Rodriguez's bid to buy the Minnesota Timberwolves and Lynx has fallen through, according to Glen Taylor, the current head of the NBA and WNBA squads. This comes after Rodriguez and former Walmart CEO Marc Lore missed a key deadline to close within 90 days of their purchase agreement, which expired on March 27, 2024. Despite the failed pact, Taylor plans to work with Rodriguez and Lore to ensure the teams have resources to compete at the highest levels on and off the court. He also stated that he has no plans to re-enter into discussions with the two about a purchase.
Опубликовано : 4 недели назад от TMZ Staff в Sports
Alex Rodriguez won't be the majority owner of the Minnesota Timberwolves and Lynx after all ... the orgs' owner just announced the former MLB star's bid to buy the teams has fallen through.
Glen Taylor, the current honcho of the NBA and WNBA squads, announced the news in a statement on Thursday morning ... explaining Rodriguez and former Walmart CEO Marc Lore's effort to become new majority owners collapsed after the two missed a key deadline this week.
"Under terms of the purchase agreement," Taylor said in the statement, "the closing was required to occur within 90 days following the exercise notice issued by Lore and Rodriguez. That 90-day period expired on March 27, 2024."
"Under certain circumstances, the buyer could have been entitled to a limited extension. However, those circumstances did not occur."
Rodriguez and Lore had previously bought 40 percent of the teams in prior sales. The most recent agreement between the two and Taylor was set to give them an additional 40 percent of the franchises.
Taylor said despite the failed pact, he'll still work with Lore and Rodriguez to "ensure our teams have the necessary resources to compete at the highest levels on and off the court."
As for going forward, Taylor doesn't appear to have plans of re-entering into talks with the two about a purchase ... saying, "The Timberwolves and Lynx are no longer for sale."
The Wolves currently have one of the best teams in the NBA, holding a 50-22 record. The Lynx -- who've won four WNBA titles -- are slated to begin their season this summer.
Темы: Minnesota Timberwolves