Alex Rodriguez and Marc Lore are working toward a deal whereby private equity giant Carlyle Group would invest in their purchase of the Minnesota Timberwolves NBA franchise and Minnesota Lynx WNBA franchise, Axios has learned from several sources.
Why it matters: This would settle down widespread speculation that the pair's financing might not come together, and reflects the ever-climbing values of pro sports clubs.
The Carlyle Group is no longer financing Marc Lore and Alex Rodriguez’s next payment in their acquisition of the Minnesota Timberwolves. The fallout comes less than two weeks before the deadline for Lore and Rodriguez to close on the deal that will give them a controlling stake in the NBA team and the WNBA’s Minnesota Lynx.