Former baseball player Alex Rodriguez looking to buy NBA's Timberwolves: Report

Former Major League Baseball MVP Alex Rodriguez and his business partner are involved in preliminary discussions to purchase the NBA’s Minnesota Timberwolves, according to reports. Rodriguez and Marc Lore, e-commerce mogul, signed a letter of intent on Saturday to buy the Timberwolves, owner Glen Taylor said.

The letter of intent stipulates that Rodriguez and Lore have a 30-day window to finalise a deal to purchase the club. Reports state that the deal would also include the WNBA’s Minnesota Lynx.

“They’ve asked that I would be there for any decisions that would need to be made,” Taylor said the Associated Press. “I would enjoy that. I love teaching people. These are a couple of very bright guys, and I think it could be helpful to the club and I think I could be helpful to them so that they feel confident once they take over 100%.”

Taylor, who turns 80 on 20 April, has opened up about how worried he was about the future of the franchise if he had gotten ill. “I was concerned if I got ill or something happened to me what would happen to the club. This gives me a path that I know it’s going to happen. I feel confident that they’ll take care of the franchise and move it ahead,” Taylor said.

In a statement distributed to ESPN, Rodriguez and Lore confirmed the agreement. “We look forward to entering this phase of the process with Glen Taylor. Our respect for him and the legacy he has built lays an amazing foundation for what is to come. We are excited by the prospect of getting to know the Timberwolves organization,” the statement said.