Alex Rodriguez and billionaire business partner Marc Lore rush to find $300million in financing to close $1.5billion Timberwolves purchase after equity group dropped out of deal

• Lore and Rodriguez have until the end of the month to finance the purchase
• The NBA would have to approve any new investor entering the deal
• DailyMail.com provides all the latest international sports news 

Baseball legend Alex Rodriguez and his billionaire business partner Marc Lore are reportedly rushing to find $300million to close their sale of the Minnesota Timberwolves after an equity group supporting them dropped out of the deal. 

However, a spokesman for Rodriguez told DailyMail.com that the deadline will be met, as the duo has other options for funding. 

The deadline for Lore and Rodriguez to close the deal is the end of March. If completed, they will have the controlling stake in the Timberwolves and the WNBA’s Minnesota Lynx. 

Rodriguez and Lore entered an agreement with Timberwolves majority owner Glen Taylor in 2021 to buy the basketball teams for around $1.5million. 

The Timberwolves were last valued at $2.8 billion per Sportico, with Rodriguez and Lore paying a little more than half of that to purchase the franchise.  

The next round of funding would bring the duo from 40% control of the team to 80%.  

Rodriguez and Lore have talked with multiple parties should Carlyle not be approved by the NBA, Rodriguez’s spokesman told DailyMail.com. 

The pair remain on schedule to close the deal by the end of March, the spokesman added. The NBA would need to approve any other investors. 

A spokesman for the NBA did not immediately respond to DailyMail.com’s request for comment. 

Lore and Rodriguez have been raising money toward the sale at a $2.1billion evaluation, per Sportico.  

The Carlyle group is also currently backing the $58million sale of the NWSL’s Seattle Reign.  

Rodriguez’s post-baseball career has been dominated by broadcasting and entrepreneurship.  

Acquiring the Timberwolves and Lynx would be his first ownership of a professional sports team after bids failed to buy the New York Mets in 2020.