Minneapolis/St. Paul – Glen Taylor, Chairman of Taylor Sports activities Group, Inc., the overall accomplice of Minnesota Timberwolves Basketball Restricted Partnership (“Timberwolves and Lynx”), this morning confirmed the expiration of the choice of Marc Lore and Alex Rodriguez to accumulate controlling curiosity within the Timberwolves and Lynx.
Below phrases of the acquisition settlement, the closing was required to happen inside 90 days following the train discover issued by Lore and Rodriguez. That 90-day interval expired on March 27, 2024.
Below sure circumstances, the customer might have been entitled to a restricted extension. Nonetheless, these circumstances didn’t happen.
“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,” mentioned Taylor. “The Timberwolves and Lynx are now not on the market.”