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A-Rod and Lore agree to buy Minnesota Timberwolves for $1.5 billion - report

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Mar 19, 2018; Tampa, FL, USA; New York Yankees designated hitter Giancarlo Stanton (27) shares a laugh with Alex Rodriguez (13), Mandatory Credit: Kim Klement-USA TODAY Sports

May 13 (Reuters) - New York Yankees great Alex Rodriguez and tech entrepreneur Marc Lore have reached an agreement to purchase the Minnesota Timberwolves from owner Glen Taylor for $1.5 billion, the Athletic reported on Thursday.

Rodriguez, better known as A-Rod, and ex-Walmart executive Lore are expected to sign formal paperwork shortly and will be equal, 50-50 partners in the purchase, the online sports news website reported, citing sources.

Rodriguez was part of a group that made an unsuccessful bid to purchase the New York Mets baseball team last year. The Mets were ultimately bought by billionaire hedge fund manager Steve Cohen in a deal that closed in November.

Reporting by Rory Carroll in Los Angeles, editing by Ed Osmond

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