Alex Rodriguez and Marc Lore are poised to complete their purchase of the Minnesota Timberwolves and Minnesota Lynx with funding from Dyal Capital Partners.

The duo currently holds a 40% ownership stake and must make a final payment by March 27 to seal the deal.

They have appointed Tim Connelly as the Wolves' president of basketball operations.

The Carlyle Group's attempt to invest was unsuccessful due to not meeting NBA investor requirements.

NBA's Board of Governors still needs to approve the ownership structure for the transaction to be finalized.

The Timberwolves are experiencing an exceptional season, with a 47-21 record and the potential to exceed 50 wins for the first time since 2004.