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Alex Rodriguez's group reportedly hasn't closed Timberwolves deal yet

·1-min read

Former New York Yankees third baseman Alex Rodriguez is looking at his second major loss in the last month. The ownership group Rodriguez is a part of still hasn't finalized a deal to buy the Minnesota Timberwolves, according to ESPN's Brian Windhorst. 

Rodriguez's group had a 30-day window in which it could engage in exclusive negotiations with current team owner Glen Taylor. That 30-day period has passed, and the two sides have not agreed on a deal, according to Windhorst.

That doesn't mean the deal is dead. Both sides are still talking, and it is possible Rodriguez's group — which also features Marc Lore — will receive an extension on those exclusive negotiating rights. 

Alex Rodriguez group closed in on deal in April

Rodriguez's group secured exclusive negotiating rights in April. If completed, Rodriguez would be part of an ownership group for both the Timberwolves and the Minnesota Lynx. At the time, it was believed Lore, Rodriguez and Taylor had all agreed on a price of $1.5 billion. 

It appears the biggest hurdle over the past month revolves around when Lore and Rodriguez would take control of the team, according to Windhorst. Reports in April suggested the ownership transfer would happen in two-and-a-half years. 

There's no guarantee a deal gets done. Taylor has engaged in negotiations with other buyers in the past, but those deals fell apart.

It's possible the same thing happens to Rodriguez's group, though it is promising that both sides are still talking even after the 30-day exclusive negotiation period passed.

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