sport news Alex Rodriguez and billionaire business partner Marc Lore 'get new backer and ... trends now
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Baseball legend Alex Rodriguez and his billionaire business partner Marc Lore have gotten a step closer to completing a full takeover of the Minnesota Timberwolves.
Yesterday, it was reported that the duo were reportedly rushing to find $300million after private-equity giants The Carlyle Group pulled their support of the deal.
At the time, a spokesman for Rodriguez told DailyMail.com that the deadline will be met, as the duo has other options for funding.
Reporting on Wednesday from The Athletic claims that the duo have submitted signed financial documentation to the NBA - and that Dyal Capital Partners has joined as an investor and is giving them the necessary funds to finish the deal.
The deadline for Lore and Rodriguez to close the deal to buy the remaining 40 percent of the franchise from current lead owner Glen Taylor is the end of March. If completed, and if the NBA's Board of Governors approves their structure, they will have the controlling stake in the Timberwolves and the WNBA's Minnesota Lynx.
Rodriguez and Lore have been in the process of buying the Timberwolves for three years
The purchase also comes with the controlling ownership stake of the WNBA's Minnesota Lynx
Rodriguez and Lore entered an agreement with Timberwolves majority
