Alex Rodriguez in negotiations to buy Timberwolves, Lynx

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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.