(Reuters) – New York Yankees great Alex Rodriguez and tech entrepreneur Marc Lore have reached an agreement to purchase the Minnesota Timberwolves from owner Glen Taylor for $1.5 billion, the Athletic reported on Thursday.
Rodriguez, better known as A-Rod, and ex-Walmart executive Lore are expected to sign formal paperwork shortly and will be equal, 50-50 partners in the purchase, the online sports news website reported, citing sources.
Rodriguez was part of a group that made an unsuccessful bid to purchase the New York Mets baseball team last year. The Mets were ultimately bought by billionaire hedge fund manager Steve Cohen in a deal that closed in November.
(Reporting by Rory Carroll in Los Angeles, editing by Ed Osmond)
