Update on pending sale of the Timberwolves – NBA Blog

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Right here’s the most recent on the pending sale of the Minnesota Timberwolves, by way of the Star Tribune:

Glen Taylor has been shut just a few occasions to promoting his stake of the Timberwolves, however no deal has crossed the end line.

That seems to be altering.

Taylor, 80, has an settlement for the $1.5 billion sale of the Wolves and Lynx to former baseball star Alex Rodriguez and tech entrepreneur Marc Lore, a supply confirmed.

The edges beforehand agreed to a 30-day unique negotiating window final month, however talks between the edges by no means ceased when that window expired nor had been there any main hindrances to getting a deal achieved. An announcement sealing the deal may come quickly.

The subsequent step within the course of shall be to have the NBA approve the sale, which is more likely to take weeks.

The Timberwolves are 22-48 this season, although in fact that has little bearing on a staff’s worth. NBA groups have huge and still-growing worth, and the prospect to personal one is an unbelievable alternative.

Creator: Inside Hoops

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