Marc Lore and Alex Rodriguez have concluded their 30-day exclusive negotiating window to purchase the Minnesota Timberwolves without a formal deal. Both sides are continuing to negotiate in good faith to reach a deal and could possibly extend the exclusive window.
Glen Taylor announced on April 10 he intended to sell the team to Lore and Rodriguez after meetings over the previous week.
The purchase price was expected to be around $1.5 billion including debt. Part of the talks over the last month have been centered on a guarantee that Taylor would transfer controlling ownership by a certain date.
Taylor previously had an exclusive negotiating window to sell the team to Daniel Straus before those talks broke down.
The team has a lease at the Target Center through 2035 but the buyout is just $50 million.