by Cedric ‘BIG CED’ Thornton
December 29, 2023
Alex Rodriguez and Marc Lore intend to purchase 40% of the Minnesota Timberwolves to become majority owners.
Former MLB player Alex Rodriguez, who is already a minority owner in the NBA franchise, the Minnesota Timberwolves, and the WNBA franchise, the Minnesota Lynx, has made it known that he intends to purchase 40% of the two franchises to become a majority owner along with his business partner, Marc Lore.
According to an X posting by ESPN’s Adrian Wojnarowski, the two men had until the end of the year to purchase the controlling interest in both teams.
ESPN Sources: Marc Lore and Alex Rodriguez are expected to exercise their option to acquire controlling ownership interest of the Minnesota Timberwolves and Lynx from Glen Taylor as soon as today. They have a Dec. 31 deadline. pic.twitter.com/qCYnBZJ0pG
— Adrian Wojnarowski (@wojespn) December 28, 2023
Of course, the NBA Board of Governors would have to OK the purchase to make it official. Wojnarowski wrote that Lore and Rodriguez have a Dec. 31 deadline to make the deal happen and intend to do so. When it does take place, the two men will have 80% ownership of both Minnesota teams.
Rodriguez and Lore are buying the Timberwolves at an opportune time, as they are having their best start in team history. The team sits atop the Western Conference with a 22-7 record.
The current owner, Glen Taylor, who bought the franchise back in 1994, will become the minority owner with a 20% stake in the team. He will have the option to sell it to the pair at a later time. Rodriguez and Lore initially bought into the franchise in April 2021. They purchased two installments of 20% of the franchise, which had a valuation of $1.5 billion.
Rodriguez was a former professional baseball player who played on several teams for over 20 years. His career started as a shortstop with the Seattle Mariners in 1994 before heading to the Texas Rangers and ending with the New York Yankees (where he won the World Series in 2009) in 2016.
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