Marc Lore Rumors
Lore declined to be interviewed for this story as he and Rodriguez are still working with Taylor to finalize an agreement as their 30-day exclusive negotiating window winds down. All parties involved remain confident that a deal is on track to be completed, sources told The Athletic, which would bring the close friends on as limited partners for the next two seasons before they took over as the general partners for the 2023-24 season.
Those who know Lore well say the Timberwolves would be adding a tenacious competitor and creative thinker, one who is envisioning how to build the city of the future and reinvent capitalism and who prioritizes empathy and transparency in the businesses he has built over the last 35 years. Now he is hoping to fulfill a lifelong dream to own a professional sports team.
“He doesn’t put himself in a position to fail,” said Gary Vaynerchuk, the high-profile entrepreneur and social media maven who has been a friend and business partner to Lore. “Now he’s at an interesting part of his career where I think he’s going for bigger bets. Flying cars and sports teams. Now I think he’s probably in his ‘let my stretch myself’ mode.”
Marc Lore, 49, and Rodriguez plan to spend $1.5 billion to buy the Timberwolves and Lynx from owner Glen Taylor, who also owns the Star Tribune. The two have a relationship beyond the Timberwolves deal. Lore and Rodriguez also were in the bidding last year to buy the New York Mets, but were eventually outbid by hedge fund billionaire Steve Cohen. Lore is special adviser to Slam Corp., a blank check company formed by Rodriguez and Himanshu Gulati, the founder and chairman of Antara Capital. Slam Corp. announced a $500 million pricing for its initial public offering in February and is looking to merge with a startup in the sports, media or health and wellness industry.
Jon Krawczynski: Marc Lore was in Sacramento for the game tonight, his first since signing the letter of intent to buy the Wolves. Met with Vivek Ranadive for a tour of the Kings arena before taking in the game.