While the 30-day exclusive negotiating window to purchase the Minnesota Timberwolves from Glen Taylor has expired, Mark Lore remains optimistic that a deal will be reached.
Lore told Bloomberg that the talks with Taylor are “ongoing, and going well,” adding that “we’re getting close to the finish line.”
Lore is partnering with Alex Rodriguez on the deal.
Lore and Rodriguez are also forming a venture capital firm called Vision/Capital/People, or VCP. The VC is launching with $50 million of the pair's own money and could eventually raise $300 million to $500 million.