MINNEAPOLIS — The 30-day negotiation window between Timberwolves and Lynx owner Glen Taylor and prospective new owners Marc Lore and Alex Rodriguez has expired, but negotiations between the parties continue on an agreement for the purchase of the franchises, sources said Tuesday.
The expiration of the 30-day exclusivity window without a deal does not mean talks have broken down and there could be an extension to that agreement, ESPN reported.
In April, Taylor reached the agreement with Lore and Rodriguez for the potential $1.5 billion sale of the Wolves and Lynx with Taylor maintaining controlling ownership for two years before Lore and Rodriguez would take over in 2023.
Taylor also said there would be language included in the contract to keep the Wolves in Minnesota. It's unclear how enforceable such language would be, but Taylor also said the NBA would have to approve any move and the league does not want to move the Wolves out of Minnesota.
Lore, an entrepreneur and Rodriguez, former MLB player, met with the team and staff last month and have been at games as well, with Rodriguez sitting courtside for the Wolves' game in Miami on Friday.
Taylor has entered exclusive windows of negotiation before for the sale of the franchise, most recently with former Grizzlies minority owner Daniel Strauss last year.
