Report: Alex Rodriguez, Marc Lore agree to finalize majority purchase of Timberwolves, Lynx

The sale of the Minnesota Timberwolves and WNBA Lynx from long-time owner Glen Taylor to Alex Rodriguez and Marc Lore has been a unique one — a gradual installment plan that Taylor reportedly wanted (allegedly to ensure a smooth handoff, but he kept his hand on the wheel longer as well). However, it has reached a tipping point.

Rodriguez and Lorwillto exercise their option by Dec. 31 to buy and take a controlling percentage of the franchise, reports Adrian Wojnarowski of ESPN.

Lore and Rodriguez, who have a Dec. 31 deadline, will be formalizing an intent to purchase a final 40% of the NBA and WNBA franchises from Glen Taylor -- giving Lore and Rodriguez 80% total of the two teams by early 2024, sources said. Lore and Rodriguez still have more time to raise the necessary money to complete the majority purchase, which will be subject to NBA board of governors approval.

Part of this deal is that the Timberwolves stay in Minnesota, and Rodriguez has said they have no plans or intention to move the franchise.

It's an interesting time for Rodrigues and Lore to take control. The Timberwolves are 22-7, sit in first place in the Western Conference, and are having one of the best seasons in franchise history, bringing back memories of the Kevin Garnett era. This is a team poised to make a deep run in the playoffs and improve in future years as Anthony Edwards evolves into one of the game's elite cornerstone players (if he's not that already).

However, this also is a roster hurtling toward a financial cliff. Next season the max contract extensions for both Karl-Anthony Towns and Edwards kick in, Jaden McDaniels' extension (five years, $131 million) also starts, and that's on top of the massive money owed Rudy Gobert. Then there is point guard Mike Conley, who is the glue for this starting five and will be an unrestricted free agent. Before re-signing Conley and rounding out the rest of the roster, the Timberwolves are more than $13 million into the luxury tax, with the punitive second apron hitting at $17 million over the tax line. How much tax are Rodriguez and Lore willing to pay next season? This is what sparks Towns trade rumors. Rodriguez and Lore might be willing to bite the bullet for one season if they believe the Timberwolves have a legitimate championship chance (something easy for fans and media to say, it's not our money). Still, within two years, the roster will get too expensive for any owner not a co-founder of Microsoft. The second apron restrictions on the front office will make it difficult to round out the roster in a way that can compete at the highest level.

Those are not easy decisions, and they now fall to Rodriguez and Lore.