Report Says Timberwolves Deal Will Keep Team in Minnesota

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MINNEAPOLIS (AP) — Minnesota Timberwolves owner Glen Taylor has reached agreement on his $1.5 billion sale of the club.

He is selling to e-commerce mogul Marc Lore and former baseball star Alex Rodriguez. The news was confirmed by a person with knowledge of the negotiation who spoke to The Associated Press on condition of anonymity because league approval was still pending. Taylor previously said the deal was contingent on Lore and Rodriguez keeping the team in Minnesota.

Lore and Rodriguez are 50-50 partners. They tried to buy the New York Mets last year but were beaten out for the Major League Baseball club by hedge fund manager Steve Cohen.