(AP Photo/Wilfredo Lee)

MINNEAPOLIS (AP) Former baseball star Alex Rodriguez and e-commerce mogul Marc Lore signed a letter of intent Saturday to buy the Timberwolves and keep the NBA team in Minnesota, owner Glen Taylor said.

The agreement, which also includes the WNBA's Minnesota Lynx, opens a 30-day window for negotiations to be finalized. If accountants and attorneys for both sides agree, the deal would then need to be approved by the league.

The Athletic first reported the $1.5 billion sale.

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