"Financing Fiasco: A-Rod and Lore's Race to Secure $300 Million for Timberwolves Ownership"
TL;DR Summary
The Carlyle Group is no longer financing Marc Lore and Alex Rodriguez's acquisition of the Minnesota Timberwolves, just weeks before the purchase deadline. Talks with the NBA regarding the investment ended without agreement on a structure. Timberwolves majority owner Glen Taylor revealed issues surrounding $300 million of financing, and Lore and Rodriguez are now seeking new funding sources. Despite this setback, they remain on schedule to close the deal by the end of the month, pending NBA approval.
- Carlyle Group Out as T-Wolves Purchase Deadline Nears Sportico
- A-Rod, Lore lose backing in deal for Timberwolves ESPN
- Scoop: A-Rod's financing deal for Minnesota Timberwolves falls apart Axios
- Is Alex Rodriguez, Marc Lore’s Timberwolves ownership in jeopardy? FOX 9 Minneapolis-St. Paul
- Alex Rodriguez and billionaire business partner Marc Lore rush to find $300million in financing to close $1.5b Daily Mail
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