{"id":448149,"date":"2024-03-20T04:59:43","date_gmt":"2024-03-20T04:59:43","guid":{"rendered":"https:\/\/yebscore.com\/news\/?p=448149"},"modified":"2024-03-20T04:59:43","modified_gmt":"2024-03-20T04:59:43","slug":"high-chances-that-alex-rodriguez-might-not-win-the-bid-for-minnesota-timberwolves","status":"publish","type":"post","link":"https:\/\/yebscore.com\/news\/high-chances-that-alex-rodriguez-might-not-win-the-bid-for-minnesota-timberwolves\/","title":{"rendered":"High Chances That Alex Rodriguez\u00a0Might Not Win The Bid For Minnesota Timberwolves"},"content":{"rendered":"<p>According to Axios, the National Basketball Association turned down a plan involving the private equity company Carlyle that would have assisted in funding Alex Rodriguez and Marc Lore&#8217;s acquisition of the Minnesota Timberwolves.<\/p>\n<h2>High Chances That Alex Rodriguez Might Not Win The Bid For Minnesota Timberwolves<\/h2>\n<p>By month&#8217;s end, A-Rod and Lore have to pay for their acquisition.<\/p>\n<p>Carlyle committed to a structured finance investment at a roughly $2.3 billion valuation.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Carlyle Group will not be involved in the latest financing for the incoming Minnesota Timberwolves ownership group led by Marc Lore and Alex Rodriguez. <a href=\"https:\/\/t.co\/n1xyZKxBkq\">https:\/\/t.co\/n1xyZKxBkq<\/a><\/p>\n<p>&mdash; Sportico (@Sportico) <a href=\"https:\/\/twitter.com\/Sportico\/status\/1770213031684739081?ref_src=twsrc%5Etfw\">March 19, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, the NBA had to approve the agreement before private equity companies could purchase extremely minor shares in teams like the Golden State Warriors and San Antonio Spurs.<\/p>\n<p>Negotiations between the two parties came to a standstill around two weeks ago, according to a source, because of something else in the company&#8217;s extensive portfolio that violated its institutional ownership policies.<\/p>\n<p>A-Rod and Lore owe Timberwolves owner Glen Taylor a sum totaling $600 million, according to recent sources. The WNBA Timberwolves and Minnesota Lynx were estimated to have sold for $1.2 billion.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Alex Rodriguez and billionaire business partner Marc Lore rush to find $300million in financing to close $1.5billion Timberwolves purchase<a href=\"https:\/\/t.co\/zfiR2e26lS\">https:\/\/t.co\/zfiR2e26lS<\/a> via <a href=\"https:\/\/twitter.com\/MailSport?ref_src=twsrc%5Etfw\">@MailSport<\/a><\/p>\n<p>&mdash; Frankie Crisostomo (@FrancCrist) <a href=\"https:\/\/twitter.com\/FrancCrist\/status\/1770211180818452597?ref_src=twsrc%5Etfw\">March 19, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>An equity group originally agreed to finance the other half of the final payment, but they pulled out. Rodriguez and Lore are likely to cover half of the amount.<\/p>\n<p>The Timberwolves and Lynx are being pursued by Rodriguez and Lore for majority ownership. Due to the league&#8217;s investment regulations, A-Rod and Lore were allegedly prevented from collaborating with the Carlyle investment group by the NBA.<\/p>\n<p>In an interview with the Daily Mail, an A-Rod representative stated that the company expects the final payment to be made regardless of their current situation.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Story: Alex Rodriguez and Marc Lore have to make a payment on buying the <a href=\"https:\/\/twitter.com\/hashtag\/Timberwolves?src=hash&amp;ref_src=twsrc%5Etfw\">#Timberwolves<\/a> by March 27, but it appears things are getting complicated.<\/p>\n<p>What happens if it doesn&#39;t happen? <a href=\"https:\/\/twitter.com\/FOX9?ref_src=twsrc%5Etfw\">@FOX9<\/a> | <a href=\"https:\/\/t.co\/sywknctTjl\">https:\/\/t.co\/sywknctTjl<\/a><\/p>\n<p>&mdash; Jeff Wald (@JeffWaldFox9) <a href=\"https:\/\/twitter.com\/JeffWaldFox9\/status\/1770168739352211478?ref_src=twsrc%5Etfw\">March 19, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A-Rod and Lore decided to purchase the Minnesota Lynx, a WNBA team, and the T-Wolves in 2021 in a multi-part deal.<\/p>\n<p>It comprised a 20% initial ownership share and a 40% purchase option, which the couple executed at the end of 2023. This month is when the payment is due.<\/p>\n<p>Although Rodriguez and Lore had the option to purchase that portion in the future, Glen Taylor, the current majority owner, would hold the remaining 20% of the company.<\/p>\n<p>Since Karl-Anthony Towns, Rudy Gobert, and Anthony Edwards will be leading the club for the foreseeable future, A-Rod and Lore are committed to seeing the deal through.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: The Carlyle Group is no longer financing Marc Lore and Alex Rodriguez\u2019s next payment in their acquisition of the Minnesota Timberwolves. <\/p>\n<p>Read: <a href=\"https:\/\/t.co\/n1xyZKy99Y\">https:\/\/t.co\/n1xyZKy99Y<\/a><\/p>\n<p>Carlyle had been in talks with the NBA for months about the possible investment. Those conversations\u2026 <a href=\"https:\/\/t.co\/aSS4Wz2w5U\">pic.twitter.com\/aSS4Wz2w5U<\/a><\/p>\n<p>&mdash; Sportico (@Sportico) <a href=\"https:\/\/twitter.com\/Sportico\/status\/1770166504602079405?ref_src=twsrc%5Etfw\">March 19, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This season, as the Minnesota Timberwolves rise to prominence in the fiercely competitive Western Conference, Rodriguez and Lore are in for a great lot.<\/p>\n<h3>How much did Alex Rodriguez buy the Timberwolves for?<\/h3>\n<p>Two 20% installments were previously acquired by Lore and Rodriguez at a $1.5 billion price for the franchise. The Timberwolves are having their greatest season ever, going 22-7 and holding the top spot in the Western Conference, when the ownership transfer is finalized.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Scoop: The NBA rejected a deal involving private equity firm Carlyle that would have helped finance a purchase of the Minnesota Timberwolves by Alex Rodriguez and Marc Lore, <a href=\"https:\/\/twitter.com\/danprimack?ref_src=twsrc%5Etfw\">@danprimack<\/a> has learned.<a href=\"https:\/\/t.co\/uh1IaTPJch\">https:\/\/t.co\/uh1IaTPJch<\/a><\/p>\n<p>&mdash; Jake Wilkins (@JakeWilkns) <a href=\"https:\/\/twitter.com\/JakeWilkns\/status\/1770161344009908456?ref_src=twsrc%5Etfw\">March 19, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h4>Who wants to buy the Timberwolves?<\/h4>\n<p>A special payment plan was used to transfer ownership of the Minnesota Timberwolves and WNBA Lynx from longtime owner Glen Taylor to Alex Rodriguez and Marc Lore.<\/p>\n<h3>How much are the Minnesota Timberwolves worth?<\/h3>\n<p>The Minnesota Timberwolves&#8217; (NBA) franchise worth from 2003 until 2023. In 2023, the Minnesota Timberwolves&#8217; franchise value increased to 2.5 billion US dollars.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Incredibly proud of this team. <\/p>\n<p>Thanks to the <a href=\"https:\/\/twitter.com\/SBJ?ref_src=twsrc%5Etfw\">@SBJ<\/a> for recognizing the <a href=\"https:\/\/twitter.com\/Timberwolves?ref_src=twsrc%5Etfw\">@Timberwolves<\/a> as one of the 2024 teams of the year.<a href=\"https:\/\/t.co\/qKC5qLdUOe\">https:\/\/t.co\/qKC5qLdUOe<\/a><\/p>\n<p>&mdash; Alex Rodriguez (@AROD) <a href=\"https:\/\/twitter.com\/AROD\/status\/1770132929219637464?ref_src=twsrc%5Etfw\">March 19, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<p><strong>FOR MORE SPORTS COVERAGE-\u00a0<\/strong><\/p>\n<p><a title=\"Eagles QB Jalen Hurts Does A Heartfelt Gesture As He Covers Funeral Expenses For Late High School Linebacker\" href=\"https:\/\/yebscore.com\/news\/eagles-qb-jalen-hurts-does-a-heartfelt-gesture-as-he-covers-funeral-expenses-for-late-high-school-linebacker\/\" rel=\"bookmark\">Eagles QB Jalen Hurts Does A Heartfelt Gesture As He Covers Funeral Expenses For Late High School Linebacker<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Axios, the National Basketball Association turned down a plan involving the private equity company Carlyle that would have assisted in funding Alex Rodriguez and Marc Lore&#8217;s acquisition of the Minnesota Timberwolves. High Chances That Alex Rodriguez Might Not Win The Bid For Minnesota Timberwolves By month&#8217;s end, A-Rod and Lore have to pay [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":448150,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51],"tags":[24867,24868,13557,2215],"class_list":["post-448149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nba","tag-alex-rodriguez-minnesota-timberwolves","tag-alex-rodriguez-minnesota-timberwolves-bid","tag-minnesota-timberwolves-news","tag-nba-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts\/448149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/comments?post=448149"}],"version-history":[{"count":0,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts\/448149\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/media\/448150"}],"wp:attachment":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/media?parent=448149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/categories?post=448149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/tags?post=448149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}