A-Rod, Marc Lore’s Bid to Take Control of Timberwolves Fails (1)

Minnesota Timberwolves minority owners Marc Lore and Alex Rodriguez have failed in their drawn-out attempt to take over the National Basketball Association franchise and its WNBA counterpart Lynx.

The option for the investors to acquire a controlling interest has expired, according to a statement from the team. Lore and Rodriquez had 90 days to close a deal under the terms of their agreement.

“We have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process,” said a spokesperson on behalf of Lore and ...