Michael Bloomberg joins group to purchase the Minnesota Timberwolves
- Billionaire Michael Bloomberg partners with Marc Lore and Alex Rodriguez in an attempt to purchase the Minnesota Timberwolves.
- The purchase is in dispute, and Bloomberg's involvement adds a new dimension to the deal.
- Speculations rise on how Bloomberg's influence could impact the future of the sports franchise.
Michael Bloomberg, the billionaire media magnate and former New York City mayor, is teaming up with Marc Lore and Alex Rodriguez to buy the Minnesota Timberwolves. Bloomberg is very rich and has a lot of money. Lore and Rodriguez wanted to buy the Timberwolves for $1.5 billion from Glen Taylor, but there was a problem with the payment deadline. They say they have the money and are waiting for NBA approval. They are now going to arbitration to settle the issue. Lore and Rodriguez already own 36% of the team and want to buy more to become the main owners. Taylor, the current owner, changed his mind about selling because the team did well last season. The Timberwolves made it to the Western Conference finals but lost to Dallas. The NBA Commissioner doesn't think the league needs to get involved in the sale. Taylor bought the team in 1994 and wants to help Lore and Rodriguez learn about the team and the city. Bloomberg joining the group adds more money and experience to the deal. The sale is still in progress, and the outcome is uncertain.