Billionaire media magnate and former New York City mayor Michael Bloomberg has agreed to partner with Marc Lore and Alex Rodriguez on their in-dispute attempt to purchase the Minnesota Timberwolves, according to a person with knowledge of the deal who spoke to The Associated Press on condition of anonymity because details were not being made...
Minnesota Timberwolves minority owners Marc Lore, left, and Alex Rodriguez celebrate after Game 7 of an NBA second-round playoff series against the Denver Nuggets, Sunday, May 19, 2024, in Denver. MINNEAPOLIS — Michael Bloomberg , the billionaire media magnate and former New York City mayor, has agreed to partner with Marc Lore and Alex Rodriguez for their
Lore and Rodriguez agreed more than three years ago to buy the Timberwolves for $1.5 billion from Minnesota native and printing and agriculture mogul Glen Taylor, whoin its approval of the transaction and were thus entitled to an extension. After mediation failed to resolve the conflict, the two sides are headed for an arbitration hearing in keeping with the terms of the contract.
Taylor acknowledged his change of heart last month but said that was because of the good vibes around the organization during a 56-26 season that went down as the second-best in franchise history. The Timberwolves wound up reaching the Western Conference finals, losing to Dallas
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