Alex Rodriguez's Bid To Buy Timberwolves, Lynx Falls Through

10:00 AM PT -- Alex Rodriguez and Marc Lore are adamant they were not the reason for the failed deal, releasing a statement through their spokesperson on Thursday afternoon that read, "We have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its process."

"Glen Taylor's statement," the two continued, "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."

Alex Rodriguez won't be the majority owner of the Minnesota Timberwolves and Lynx after all ... the orgs' owner just announced the former MLB star's bid to buy the teams has fallen through.

Glen Taylor, the current honcho of the NBA and WNBA squads, announced the news in a statement on Thursday morning ... explaining Rodriguez and former Walmart CEO Marc Lore's effort to become new majority owners collapsed after the two missed a key deadline this week.

"Under terms of the purchase agreement," Taylor said in the statement, "the closing was required to occur within 90 days following the exercise notice issued by Lore and Rodriguez. That 90-day period expired on March 27, 2024."

"Under certain circumstances, the buyer could have been entitled to a limited extension. However, those circumstances did not occur."

Rodriguez and Lore had previously bought 40 percent of the teams in prior sales. The most recent agreement between the two and Taylor was set to give them an additional 40 percent of the franchises.

Taylor said despite the failed pact, he'll still work with Lore and Rodriguez to "ensure our teams have the necessary resources to compete at the highest levels on and off the court."

As for going forward, Taylor doesn't appear to have plans of re-entering into talks with the two about a purchase ... saying, "The Timberwolves and Lynx are no longer for sale."

The Wolves currently have one of the best teams in the NBA, holding a 50-22 record. The Lynx -- who've won four WNBA titles -- are slated to begin their season this summer.