A-Rod, agree to buy the Timberwolves


MINNEAPOLIS (AP) -- Former major leaguer Alex Rodriguez and e-commerce tycoon Marc Lore on Saturday signed a letter of intent to buy the Timberwolves and to keep the team in Minnesota, current owner Glen Taylor said.

The agreement, which also includes the Minnesota Lynx at WNBA, opens 30 days to conclude the negotiations.

If accountants and lawyers on both sides reach consensus, the contract would require the approval of the league.

The Athletic site was the first medium to report on the sale, which would reach $1.5 billion.

Under the terms of the agreement, Taylor would remain in control of the club for the next two years and count on Rodriguez and Lore as members until 2023, when he would give them full command.

During an interview with The Associated Press, Taylor said the connection with stakeholders was "tremendously good," and was "happy and excited" for what was to come.

"They have asked me if I would be there for the decisions that should be made," he added. "I'd love that. I love teaching people. These two guys are brilliant and I think they might be of help to the club. I think I could help them feel confident once they take over 100 percent."

Taylor, who offered the two teams for sale last year, said Rodriguez and Lore first approached him a week ago. They both traveled to meet Taylor and his wife at their winter home in Naples, Florida.

The owner, who will turn 80 on April 20, spoke to numerous bidders but had clarified that he should be comfortable with the buyer. He said he has that feeling with Rodriguez and Lore.

"I was worried that if I got sick or something happened to me, the fate of the club would be uncertain. This opens up a path where I know what's going to happen. I feel confident that they will take care of the franchise and take it forward," Taylor said.

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