Alex Rodriguez Closes in on Majority Minnesota Timberwolves Ownership, Nears Final Payment Amidst Incoming Deadline

Amidst his uncertain Hall of Fame future, Alex Rodriguez has begun headlining the news again. The MLB legend is reportedly in talks of taking complete ownership of his NBA team, the Minnesota Timberwolves, along with business partner Marc Lore.

The pair previously held a 20% stake in the team, which they bought in two installments. That makes them stakeholders in a $1.5 billion franchise. According to sources, they are expected to make a move sometime before Thursday. These are the details of the deal that have been revealed so far by ESPN.

Alex Rodriguez is all set to take over the Timberwolves completely by 2024

As revealed by NBA columnist Adrian Wojnarowski in a report from today, part owner Alex Rodriguez is all set to take over the team from their current owner, Glen Taylor. In the deal that has a deadline of December 31st, A-Rod and Lore will become joint owners of 40% of the stakes in both the Timberwolves and the Lynx of the WNBA, another team currently under Taylor’s ownership.

The trade that will make them joint owners of 80% of an NBA and WNBA team is still pending approval from the NBA Board of Governors. This gives the partners some time to rack up the rest of the resources required to make them major stakeholders in the franchises. For a process that has been going on for over two years, it certainly marks a moment of celebration between the future owners!

The filing process for the takeover reportedly began in April 2021. Its conclusion couldn’t have happened at a better time – the Timberwolves just had their best season yet. The team clinched a winning record of 22-7, securing first place in the Western Conference. Alex Rodriguez, along with Lore, made some hiring decisions that proved to be instrumental in such a staggering record.

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A-Rod’s contribution that led to the team’s success this year

A-Rod and Lore helped the Timberwolves employ Tim Connelly as their president. The former GM of the Denver Nuggets then went on to bring in Mike Conley Jr. and Rudy Gobert. Both of them played a major part in the team’s unbelievable success this season, which instantly shot them to their prime.

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As the MLB Hall of Fame 2024 deadlines draw near, fans can breathe in peace, knowing that their favorite idol, Alex Rodriguez, now has one less thing to worry about in the future.