Their ownership structure still must be approved by the NBA’s Board of Governors before they can assume full control of the franchises.
Marc Lore and Alex Rodriguez have submitted signed financial documentation to the to complete the acquisition of majority control of the and Lynx from Glen Taylor, multiple sources briefed on the matter told The Athletic. Dyal Capital Partners has joined as an investor in the Lore-Rodriguez group, giving them the final financial backing necessary to complete the transaction, industry sources said.
This step comes one day after it was reported that the Carlyle Group, a private equity firm, had pulled its $300 million from the Lore-Rodriguez group. League sources told The Athletic that Carlyle was not able to agree to certain requirements the NBA makes of investors, so it was mutually agreed upon that Carlyle would withdraw. “The NBA did not deny Carlyle’s proposed investment in the Minnesota Timberwolves and Lynx,” league spokesman Mike Bass told The Athletic.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spy Shots: Is this BH XC Prototype the Next Evolution of their Lynx Race mountain bike?Spy shots reveal prototype next-gen BH Lynx Race carbon full-suspension XC mountain bike over the weekend in Spain. What do we know so far?
Read more »
Spiralling deer population 'devastating' UK nature - prompting calls to reintroduce wolves and lynxNew footage reveals the growing scale of the country's deer population - and while the animals generally enjoy a positive image, experts say their rapidly growing numbers pose significant ecological dangers for the UK.
Read more »
NBA: Nikola Jokic scores 35 points as Denver Nuggets edge Minnesota TimberwolvesNikola Jokic scores 35 points as the Denver Nuggets survive a Minnesota Timberwolves comeback to win 115-112.
Read more »
Dune: Awakening devs had to get permission from the Herberts to change a tiny piece of Dune lore so players wouldn't nuke each other constantlyWes has been covering games and hardware for more than 10 years, first at tech sites like The Wirecutter and Tested before joining the PC Gamer team in 2014. Wes plays a little bit of everything, but he'll always jump at the chance to cover emulation and Japanese games.
Read more »
Anthony Edwards makes startling admission after hitting his head on the rim in gravity-defying,...Minnesota Timberwolves star Anthony Edwards says he’s ‘never jumped that high’ after hitting his head on the rim of the hoop in game-saving block
Read more »
NBA: D'Angelo Russell stars as Los Angeles Lakers beat Milwaukee BucksD'Angelo Russell's season-high 44 points helps the Los Angeles Lakers beat the Milwaukee Bucks, while Rudy Gobert's 'immature reaction' costs the Minnesota Timberwolves.
Read more »