T-Wolves Owner: A-Rod, Partner In Agreement To Buy NBA Club

MINNEAPOLIS -- AP -- Former baseball star Alex Rodriguez and e-commerce mogul Marc Lore have signed a letter of intent to buy the Timberwolves and keep the NBA franchise in Minnesota. Timberwolves owner Glen Taylor confirmed the agreement, which includes the WNBA's Minnesota Lynx.

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The two sides have a 30-day window for negotiations to be finalized. Taylor plans to keep control of the club for the next two years and bring on Rodriguez and Lore as partners until a handover in 2023. The Athletic first reported the sale, which would be worth $1.5 billion.