The deal has been discussed openly by Minnesota Timberwolves owner Glen Taylor who also wanted to buy the team. But he now believes he has lost out.
ESPN.com reports that Taylor said on Sunday that Fowler has agreed a $625 million deal to buy the franchise from Red Coombs. Official confirmation of the deal could come today.
But the apparent agreement doesn’t mean that the deal is done. NFL rules require 24 of the 32 owners to approve a sale.
The NFL also mandates that a general partner must put down 30 per cent of the cash portion of any franchise purchase, and little is known about Fowler's personal wealth although it has been estimated at $400 million.
