Alex Rodriguez fell short in his bid last year to purchase the Mets, and his investor group has been unable thus far to close its proposed deal to buy the NBA’s Minnesota Timberwolves.
A-Rod’s 30-day exclusive negotiating window with partner Mark Lore to buy the T-Wolves from owner Glen Taylor has expired without an official agreement in place, ESPN reported.
Good-faith negotiations are continuing, however, and the window could be extended, according to the report.
Taylor had announced an intention to sell the NBA team last month to a group headed by Rodriguez and Lore, the former CEO of Walmart U.S. eCommerce, for what was projected to be around $1.5 billion. A-Rod and Lore were expected to start out as limited partners for two years before taking full control of the franchise – and the WNBA’s Minnesota Lynx – during the 2023-24 NBA season.
Rodriguez and former fiancée Jennifer Lopez attempted to buy the Mets in 2020, but their bid was beaten out by a $2.4 billion sale to hedge fund manager Steve Cohen.
Taylor also entered in an exclusive negotiating window to sell the Timberwolves to venture capitalist Daniel Straus last year before talks broke down.