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Former baseball star Alex Rodriguez and Marc Lore have lost the financial backing of the Carlyle Group with one payment left to claim majority ownership of the Minnesota Timberwolves, according to current owner Glen Taylor.
That payment was set to close a process that began in April 2021 for Lore and Rodriguez to purchase the Timberwolves in installments. Lore and Rodriguez previously purchased two installments of 20% at a $1.