T-Wolves Majority Ownership Just Had a Last-Second Substitution

A key deadline for former Yankees (BOOOOOO) star Alex Rodriguez to take majority ownership of the Minnesota Timberwolves and Minnesota Lynx with Marc Lore is next week, and a financial backer...backed out.

But before the clock runs out, a new financial backer has been found. Now we wait to see if this one fouls out. I will NOT promise to abstain from any further basketball puns.

What Happened Yesterday

A-Rod and Lore have a $600 million (cue Dr Evil pose) payment to make to current majority owner Glen Taylor by March 27th. They had an equity group lined up to cover half of the bill, but one of two scenarios took place yesterday:

• the group decided to back out
• the NBA rejected the deal

From Glen Taylor himself: "They have to go out and find new revenue. That I do know."

What Happened This Morning

According to The Athletic, a group named Dyal Capital Partners is now stepping in to join the buyers' group as an investor. So I guess the deal is saved...as long as DCP doesn't foul out in the next week (I WARNED YOU).

What's Happening Now

As of this writing (3/21/24), the Timberwolves are having a helluva season: a 47-22 record and currently in 3rd place in the Western Conference. A few key injuries have happened in succession, but hopefully the roster is deep and resilient enough to hold on until the stars come back.

It's been a fun season for Minnesota sports fans who've long suffered mediocrity among the pro men's teams while ignoring the Lynx dynasty of the 2010s when they won championships in 2011, 2013, 2015, and 2017.

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H/T: Minneapolis/St Paul Business Journal