YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
A planned sale of the NBA's Minnesota Timberwolves has fallen apart.
Owner Glen Taylor said Alex Rodriguez and Marc Lore failed to come up with the needed financing by a Wednesday deadline. They were seeking to buy a 40% stake in addition to the 40% of the team they already own, as well as purchase the Women's National Basketball Association's Lynx. Both teams are no longer for sale, according to Taylor.
"We have fulfilled our obligations, have necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process. Glen Taylor's statement is an unfortunate case of seller's remorse that is short sighted and disruptive to the team and the fans during a historic winning season," Rodriguez and Lore said in a statement.
Read more from CNBC.
Moseley’s Discount Office Products was purchased; Side Chick opened in Branson; and the Springfield franchise store of NoBaked Cookie Dough changed ownership.