Alex Rodriguez's bid to become majority owner of Timberwolves falls through. Here's why [USA TODAY]
The Carlyle Group Inc. (CG)
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Source: USA TODAY
The teams' ownership group announced Thursday that the 90-day period for Rodriguez and partner Marc Lore to complete the purchase agreement they had reached in December has expired. “I will continue to work with Marc, Alex and the rest of the ownership group to ensure our teams have the necessary resources to compete at the highest levels on and off the court,” general partner Glen Taylor said in a statement . “The Timberwolves and Lynx are no longer for sale.” Axios reported last week that the NBA rejected a $300 million investment from the Carlyle Group. After that, Dyal Capital Partners joined the Lore-Rodriguez group to provide the necessary funding. It was expected NBA owners would vote on approval of the sale in April. "I've always been a big fan of the NBA," Rodriguez told USA TODAY Sports in an interview last June. "You see the trends, you see what they're doing. It's exciting, it's young, it's dynamic. We saw it also as a great business opportunity." However, through
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