Alex Rodriguez really wants to become the owner of a professional sports franchise. He and now-former fiancée Jennifer Lopez had a failed bid to buy the New York Mets last year, and now he’s testing the NBA waters, attempting to buy the Minnesota Timberwolves with tech entrepreneur Marc Lore.
Last month, the team signed a Letter of Intent to buy the team, and entered a month of exclusive negotiations to try and reach a deal with current owner Glen Taylor. That 30-day window has now closed.
There’s still a very good chance that the A-Rod-helmed team will ultimately buy the Timberwolves. It does sound like they’d hit some snags in a deal believed to be worth $1.5 billion.