]UPDATE: Later in the week, Lore and Rodriguez announced they had secured an investment from Dyal. ]
The Carlyle Group is no longer funding Marc Lore and Alex Rodriguez’s second pay in their merger of the Minnesota Timberwolves. The consequences comes less than two months before the date for Lore and Rodriguez to close on the package that will give them a controlling interest in the NBA team and the WNBA’s Minnesota Lynx.
Carlyle had been in discussions with the NBA for decades about the possible expense, according to someone familiar with the details. Those discussions ended just with the two edges unable to agree on a structure that the NBA do review, said the man, who was granted secrecy because the subject is personal. The man declined to provide more information about the specific stand- ups.

Timberwolves majority owner Glen Taylor said on Tuesday there’s been issues surrounding$ 300 million of financing for the latest funding round. The deadline for the pay, which will provide the trio another 40 % bringing them to 80 % of the group, is expected at the end of March.
” They ( Lore and A- Rod ) had an equity group that was going to come in and put in$ 300 million, and that equity group has either withdrawn or the NBA has denied them”, Taylor told reporters. ” They have to go out and get new income. That I do know”.
Lore and Rodriguez have been in discussions with various other financiers in planning that Carlyle would not be approved by the NBA, according to a cause close to the party. A rep for Rodriguez and Lore said the two remain on deadline and are still planning to close on the package at the end of month. The NBA’s Board of Governors would still need to review the purchase to actually be in control.
In 2021, Taylor entered into an agreement with Lore and Rodriguez for them to buy the Timberwolves and Lynx for about$ 1.5 billion. The multi- piece deal, which included a series of smaller escalators, has been ongoing since then with Lore and Rodriguez raising some cash in this latest square at a$ 2.1 billion valuation, according to previous Sportico reporting.
This good does n’t indicate a lack of interest in sports for Carlyle, which has been looking to increase its presence in media and entertainment. The group is currently backing the$ 58 million order of the NWSL’s Seattle Reign.
The Timberwolves were past valued at$ 2.8 billion, according to Sportico’s latest prices. An NBA official said in a statement that the group “did not refuse Carlyle’s proposed purchase”. The Timberwolves and a member for Carlyle declined to comment.
( This story has been updated in the last paragraph with a statement from the NBA. )