Working with the Carlyle Group, Marc Lore and Alex Rodriguez hope to add the American private equity firm as a minority stakeholder in the Minnesota Timberwolves.
Lore and Rodriguez reached an agreement to purchase the Wolves at a $1.5 billion valuation through a tranched-out purchase in 2021. This includes a 20 percent initial investment that has since increased to 40 percent. By March of next year, an additional 40 stakes can be added.
Carlyle’s estimated investment would be valued at approximately $2.3 billion.
Glen Taylor will still own the remaining 20% of the shares, but Rodriguez and Lore also have a future option on that portion.
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