A-Rod, Marc Lore Won't Buy Controlling Stake in NBA's Timberwolves [BNN Bloomberg (Canada)]
The Carlyle Group Inc. (CG)
Last the carlyle group inc. earnings: 4/30 06:40 am
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Source: BNN Bloomberg
The option for the investors to acquire a controlling interest has expired, according to a statement from the team. Lore and Rodriquez had 90 days to close a deal under the terms of their agreement. Lore and Rodriguez agreed to buy the Timberwolves at a valuation of $1.5 billion in the spring of 2021. The deal called for the pair to buy the team in three installments, beginning with a 20% stake that year. Lore and Rodriguez acquired another 20% in 2023 and were due to make payment on a final 40% and take control of the team on March 27. However, issues arose over the final installment. Rodriguez and Lore tapped the Carlyle Group for $300 million to help purchase the team. But according to the Athletic, Carlyle could not agree to certain requirements the NBA has for investors. “They had an equity group that was going to come in and put in $300 million, and that equity group has either withdrawn or the NBA has denied them,” majority owner Glen Taylor told reporters earlier this m
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CG
Earnings
- 2/8/24 - Miss
CG
Sec Filings
- 4/18/24 - Form ARS
- 4/18/24 - Form DEF
- 4/18/24 - Form DEFA14A
- CG's page on the SEC website