Former MLB star Alex Rodriguez to purchase Timberwolves majority stake / News - Basketnews.com

Rodriguez and his business partner Marc Lore formalized the intent to purchase the majority stake in the Timberwolves and Lynx organizations. With the transaction, they will control 80% of the franchises.

Credit: Carmen Mandato/Getty Images North America/Getty Images via AFP - Scanpix Credit Carmen Mandato/Getty Images North America/Getty Images via AFP - Scanpix

The change of the Minnesota Timberwolves ownership is entering the final stage.

2-pointers this season

55%29,3Points made:29,3Accuracy:54,7%Place in standings:15Record max:37Record min:19Most made 2FGs:Anthony EdwardsTeamNBAStatisticsSchedule

According to Adrian Wojnarowski from ESPN, former MLB superstar Alex Rodriguez and businessman Marc Lore are expected to acquire the controlling ownership of the franchise from the current owner Glen Taylor.

The two businessmen had previously acquired 20% of the organization, which later grew to 40%. They had until the end of the year to express intent to purchase an additional 40% of the business.

Private equity investment firm Carlyle Group would join in their purchase, which will have to be funded by March, Axios note.

With the purchase, Lore and Rodriguez will control 80% of the Timberwolves and WNBA's Minnesota Lynx franchises.

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