Timberwolves majority owner Glen Taylor said in a statement that prospective owners Marc Lore and
Alex Rodriguez did not meet the terms of the purchase agreement and that the Timberwolves and Lynx are “no longer for sale.” Lore and Rodriguez were due to make their final payment to accrue their final 40% of ownership by March 27 after exercising their notice of intent to do so in December. Under certain circumstances, the buyer could have been entitled to a limited extension. However, those circumstances did not occur, the team said in a statement. “I will continue to work with Marc, Alex and the rest of the ownership group to ensure our teams have the necessary resources to compete at the highest levels on and off the court,” Taylor. “The Timberwolves and Lynx are no longer for sale.” Lore and Rodriguez initially agreed to buy the team from Taylor in 2021 and had been making annual payments. Their group currently owns 40% of the organization. The duo recently secured a commitment from an investment firm last week in an attempt to secure the final 40%. ADVERTISEMENT MORE MINNESOTA TIMBERWOLVES COVERAGE: Pro Rudy Gobert dominant again as Timberwolves pull away from Detroit for 50th win It was a night where the Wolves were sluggish at times and the offense stalled on occasion 14h ago · By Jace Frederick / St. Paul Pioneer Press Pro Timberwolves celebrate news of T.J. Warren’s signing for rest of season The forward has performed well on consecutive 10-day contracts 15h ago · By Jace Frederick / St. Paul Pioneer Press Pro Timberwolves coaching staff flexing its collective muscle in Karl-Anthony Towns’ absence The Wolves have yet to break stride after losing their star player to injury. 1d ago · By Jace Frederick / St. Paul Pioneer Press Pro Anthony Edwards, Timberwolves finish season sweep of Warriors Naz Reid registered a double-double with 20 points and 12 rebounds for Minnesota. 3d ago · By FIELD LEVEL MEDIA Pro Timberwolves again benefitting from the ‘otherworldly’ play of Jordan McLaughlin The combination of effort, skill and smarts allow the 6-foot point guard to have a huge impact on the game 4d ago · By Jace Frederick / St. Paul Pioneer Press Pro Timberwolves have six in double figures in win over Cleveland In recent games, a shut-down Edwards would’ve surely signified a loss for Minnesota. That was not the case Friday. 5d ago · By Jace Frederick / St. Paul Pioneer Press Pro Timberwolves’ evolving Anthony Edwards is playing some of best
basketball of his career When the play is there for him to score, he’s taking it. When defenses are overcommitting to the guard, he’s getting off the ball and creating opportunities for others 6d ago · By Jace Frederick / St. Paul Pioneer Press Pro In a season of sacrifice, Timberwolves’ Mike Conley is reminding everyone he can still score Conley has – by his own admission – passed up his own offense in the name of movement of ball and bodies. Mar 20 · By Jace Frederick / St. Paul Pioneer Press Pro Short-handed Timberwolves put up stiff fight, fall at horn to Denver The Wolves were sans their three centers — Karl-Anthony Towns, Rudy Gobert and Naz Reid. Mar 19 · By Jace Frederick / St. Paul Pioneer Press Pro Anthony Edwards leads Wolves to season-series sweep of Jazz The All-Star's big game included eight assists, seven rebounds and two blocks. Mar 19 · By FIELD LEVEL MEDIA ______________________________________________________ This story was written by one of our partner news agencies. Forum Communications Company uses content from agencies such as Reuters, Kaiser Health News, Tribune News Service and others to provide a wider range of news to our readers. Learn more about the news services FCC uses here . Comments Share Share this article News reporting News reporting Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. The Trust Project What is this? Tags Tags MINNESOTA TIMBERWOLVES Conversation