‘Wouldn’t Be Surprised if A-Rod Becomes a Subservient No.2!’- $350 Million Worth Alex Rodriguez Nearly Lost Controlling Interest of Timberwolves After Poor Financial Planning

Yankees icon Alex Rodriguez and controversies seem to be inseparable. Another surrounding the former baseball player surfaced regarding his ownership of the NBA team, Minnesota Timberwolves.

Alex, with billionaire Marc Lore, acquired a 20% stake in the team last year by putting $250 million as a down payment. 

And now, he might be losing control interests of the team because of poor financial management. The man is worth $350 million. And this deal might be falling through his hands if he does not make some big financial changes very soon. 

What is happening with Alex Rodriguez?

According to sources, when A-Rod and Marc put $250 million as a down payment, Alex could not come up with his half. He was only able to put 7%, and the rest of it was paid by Marc.

The terms of the deal state that the other half of their payment has to be paid by the end of the year. For that, Alex is, “scrambling to raise his half in addition to the cash he needs for the down payment.”

“I wouldn’t be surprised if A-Rod becomes a subservient No. 2 to Lore,” a source said.  According to Marc, he and Alex are still making the decisions together for the team. But he did not say anything about him owning a bigger stake in it.

The source also said, “His ability to raise capital went from strong to meaningfully weaker. J.Lo validated him.”

Read More: ‘Everything Happens for a Reason’ – Alex ‘A-Rod’ Rodriguez Looks Back at Pursuing Business Venture to Acquire the Mets Alongside Then Fianceé Jennifer Lopez

If the former baseball player is not able to come up with his share, his co-investors might be doing that. And A-Rod’s ownership will remain at only 7%.

Did Marc and Alex try to buy another team before?

The news of A-Rod and his ex-fiance trying to buy the baseball team, the New York Mets, is not hidden from anyone.

But it was not only A-Rod and JLo, but Marc was also there in the deal. And according to the source, Alex “always made it seem like they were investing as a couple.”

Watch this story: Alex ‘A-Rod’ Rodriguez tried being a salesman for Minnesota Timberwolves tickets for a day – Here’s how it turned out

But the deal fell through as they could not come up with the price. And later they bought stakes in Minnesota Timberwolves.