Alex Rodriguez in negotiations to buy Timberwolves, Lynx

KSTP Sports

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Timberwolves owner Glen Taylor signed an exclusive letter of intent on Saturday regarding the purchase of the Timberwolves and Minnesota Lynx with former professional baseball player Alex Rodriguez and former Walmart CEO Marc Lore, a team spokesman confirms to KSTP.

Taylor would stay in control of the franchises for the next two-and-half years with Rodriguez and Lore having limited partnerships.

Update: Our Darren ‘Doogie’ Wolfson talked with Taylor. Click the video box above to listen to their conversation.

Taylor, who bought the Timberwolves in 1994, has been looking for a buyer since July of 2020. He negotiated with former Memphis limited partner Daniel E. Straus August 2020, but an agreement couldn’t be reached. He also went far down the path of selling to another former Memphis limited partner, Steve Kaplan, in 2015.

Rodriguez tried to buy the New York Mets last year but that deal never happened.

In this July 11, 2017, file photo, former baseball player Alex Rodriguez reports from the field during the MLB baseball All-Star Game in Miami. Rodriguez and e-commerce mogul Marc Lore have signed a letter of intent to buy the Timberwolves and keep the NBA franchise in Minnesota. Timberwolves owner Glen Taylor confirmed the agreement, which includes the WNBA’s Minnesota Lynx. The two sides have a 30-day window for negotiations to be finalized.[Lynne Sladky/Associated Press]