Yankees legend Alex Rodriguez and friend Marc Lore, the former president and CEO of Walmart, are expected to become the next owners of the Timberwolves.
The two have signed a letter of intent and are currently negotiating with Timberwolves majority owner Glen Taylor during a 30-day window, according to The Athletic's Jon Krawczynski. The two would serve as limited partners for the next two-and-a-half years before taking control of the team if a deal were to get done. Taylor would serve as a mentor for the two new owners.
"We look forward to entering this phase of the process with Glen Taylor," Rodriguez and Lore said in a statement.