Photo: Minnesota Timberwolves

The Minnesota Timberwolves and Minnesota Lynx are no longer for sale, as confirmed by Glen Taylor, the Chairman of Taylor Sports Group, Inc.

Taylor stated that Marc Lore and Alex Rodriguez’s option to acquire controlling interest in the teams has expired.

The purchase agreement stipulated that the closing must occur within 90 days following the exercise notice issued by Lore and Rodriguez.

However, the 90-day period expired on March 27, 2024, without the transaction being completed.

Although the buyer could have been entitled to a limited extension under certain circumstances, those circumstances did not occur.

Taylor expressed his commitment to working with Lore, Rodriguez, and the rest of the ownership group to ensure that the teams have the necessary resources to compete at the highest levels.

Taylor affirmed, “The Timberwolves and Lynx are no longer for sale,” indicating the conclusion of the ownership transition process.