Billion Dollar Failure Fractures Alex Rodriguez & Marc Lore Efforts To Secure Major NBA Dream

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The shocking news of Alex Rodriguez and Marc Lore’s failure to purchase the Minnesota Timberwolves hit the airwaves recently. While the announcement by the majority governor of the Wolves Glen Taylor did come as a surprise, turns out there are several reasons for the deal sinking.
According to Joe Pompliano’s post on X, “It seems like there is more to this story… In 2021, A-Rod and Lore agreed to purchase the team (over several transactions) for $1.5 billion. Since then, the team’s paper value has increased by $1B+, and there isn’t a good reason why they couldn’t find someone else to fund it.”
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Rodriguez and Lore encountered difficulties in securing financing to complete the acquisition. Despite initially losing support from private equity firm Carlyle, they appeared to have gained a new backer in Dyal Capital recently.
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However, with just a week to finalize the investment structure, it appears the Rodriguez-Lore consortium failed to make the last payment before Wednesday’s deadline. Consequently, Taylor withdrew from the agreement, retaining his position as the primary owner of the franchise.
This is a developing story

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