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Alex Rodriguez struck out on buying the New York Mets, but the MLB legend might soon be closing in on history by becoming part-owner of the Minnesota Timberwolves.
ESPN’s Adrian Wojnarowski reports that Rodriguez and billionaire Marc Lore are finalizing a deal to purchase the TImberwolves from majority owner Glen Taylor.
Rodriguez and Lore have since released a statement announcing they will become minority stakeholders in the team. After two years of being mentored by Taylor on how to operate the NBA franchise, both men will then obtain majority ownership of the club.
Alex Rodriguez and partner Marc Lore are nearing minority stakes with the Minnesota Timberwolves, with plan to take control of the franchise in two years under mentorship of Glen Taylor. Statement from A-Rod and Lore: pic.twitter.com/nFDIhil5ra
— Shams Charania (@ShamsCharania) April 10, 2021
According to The Athletic’s Jon Krawczynski, documents were signed on Saturday, and the two parties will enter a 30-day negotiating window. If the deal is finalized, the plan will be implemented with the former MLB star becoming the new face of the Timberwolves organization as the succession plan begins.
The deal reportedly carries a $1.5 billion valuation, establishing a purchasing price for when the final sale could go through. In the coming weeks, both parties will negotiate additional details. If both sides agree to the purchase, Lore and Rodriguez will then seek approval from the NBA’s Board of Governors.
Timberwolves legend Kevin Garnett was part of an investment group with significant interest in buying the franchise. However, his long-time feud with Taylor meant that he would never have a realistic opportunity to obtain a stake in the team.
Rodriguez and Jennifer Lopez, who have since split, were part of a group trying to buy the Mets in 2020. While the group was one of the finalists, it ultimately lost to billionaire Steve Cohen.
As word of the shocking news spread, both NBA and MLB fans reacted to the stunning announcement. Not surprisingly, many couldn’t help but wonder if Rodriguez will move the team to Seattle and questioned Taylor for not selling the team to Garnett.
a-rod when karl-anthony towns does a dunk pic.twitter.com/DE1eekX4l5
— Matt Ellentuck (@mellentuck) April 10, 2021
The Timberwolves after A-Rod gives them their shipment of steroids https://t.co/0CEsW0iFqo pic.twitter.com/zkyNrcygjL
— Tyler Conway (@jtylerconway) April 10, 2021
Live shot of ESPN’s NBA staff learning about the A-Rod news from another outlet: pic.twitter.com/ZjuSkQlYjW
— Richard Deitsch (@richarddeitsch) April 10, 2021
They let A-Rod buy the team and not their best player in franchise history in KG? https://t.co/mUaUUQuWiU
— Trent Simpson (@TMoney_8) April 10, 2021
— Kavitha A. Davidson (@kavithadavidson) April 10, 2021
Timberwolves turned down Garnett for A-Rod?
— Jillian Adge (@JillAdge) April 10, 2021
Does this mean we can get A-Rod to leave ESPN or is this false hope? https://t.co/teLARFObtX
— Seth Guttman (@Seth_Guttman) April 10, 2021
Glen Taylor screwed up so bad that he couldn't sell the team to the most beloved player in team history (Kevin Garnett) and is instead going to sell to Alex Rodriguez who will probably move the team to Seattle.
— Ian Kenyon (@IanKenyonNFL) April 10, 2021
I don’t know why people are worried about relocation it’s not like A-Rod has ties to SeattOH NO
— Brandon Warne (@Brandon_Warne) April 10, 2021
when i was going through relationship problems, i bought myself a pair of shoes but go off, a-rod
— OLIVIA witherite (@Oliviawitherite) April 10, 2021
More must-reads:
- Alex Rodriguez, Marc Lore negotiating to become Timberwolves owners
- A quest to improve Anthony Edwards’ shot profile
- The 'Most points in a playoff game by team' quiz
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