Alex Rodriguez Joins Ownership Group for Timberwolves and Lynx

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Former Yankees star Alex Rodriguez and e-commerce billionaire Marc Lore officially joined the ownership group The Minnesota Timberwolves of the NBA and the Minnesota Lynx of the WNBA were approved by the NBA’s Board of Directors on Wednesday after they bought a limited stake in the teams.

For now, the teams will be controlled by longtime owner Glen Taylor, but Rodriguez and Lore are expected to take control in 2023. in aprilA Timberwolves spokesperson said the buyout deal “will initially require a limited partnership stake through controlling ownership of the organization.” Teams sold for $1.5 billion, The New York Times reported.

Taylor, 80, is from Minnesota and made his fortune from printing. It bought the Timberwolves in 1994 from an ownership group that was trying to move the team out of state. He has He told the Star Tribune newspaperHe also owns, that the sale deal will include language to keep teams in Minnesota, though it’s unclear whether that will happen.

Rodriguez and Lore were part of a group with Jennifer Lopez and others. Tried to buy the Mets, but it fell short for Steven Cohen’s billions.

Retiring from playing baseball in 2016, Rodriguez has worked as a baseball commentator for both Fox and ESPN and has invested in a number of companies. Lore made his fortune by founding Diapers.com, which was sold to Amazon, and Jet, which was sold to Walmart for $3.3 billion.

While Rodriguez and Lore are now part of the ownership group, there is no guarantee that everything will work out.

Because NBA rules, like the rules of other major professional sports leagues in the United States, require one person to be the final decision maker, either of the two will need to be appointed as the controller. Planned succession of ownership can proceed smoothly as follows: nets, or messy, as it were Denver Broncos. And although an item is added, New owners of Seattle SuperSonics Two years later, in 2006, he made a “good faith effort” to find a new arena in the Seattle area. team was Oklahoma City ThunderIt’s a situation the NBA certainly doesn’t want to repeat with the Timberwolves, who joined the league in 1989.



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