Despite His Millionaire Status, Alex Rodriguez is Still Racing Against Time to Solve a Colossal $250 Million Dilemma

Alex Rodriguez, a former baseball legend, has always had an insatiable passion for sports, a love that courses through his veins like adrenaline. Even in retirement, the allure of the arena remains an integral part of his being. While A-Rod has hung up his cleats, he is still a player in the game of business, and his latest venture has led him to basketball. 

Notably, he acquired a stake in the Minnesota Timberwolves in 2021 and is looking forward to owning a majority of the stakes. But just like any game, there are obstacles to overcome. The MLB star and his business partner Marc Lore have been on a quest to increase their ownership in the Minnesota basketball team from 20% to 40%. The challenge? Coming up with a staggering $250 million required to make their deal a reality.

Alex Rodriguez needs $250 million to up his stakes

Despite the naysayers, it seems Alex Rodriguez and his business partner Marc Lore are still on track to take over the Minnesota Timberwolves as well as the Lynx. The two have a deadline of March 28th to pay $250 million, as part of a larger $1.5 billion takeover agreement, in order to increase their stake in the team to 40%. 

However, the A-Rod camp has stepped up to silence any doubts. According to them, “The money is in the bank.” 

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To recap, back in July 2021, A-Rod and Lore had already invested around $250 million to secure their initial stakes in the team. If they do complete the payment this month, they’ll have the option to up the stakes to 80% by March 28th, 2024. 

The hurdles the former slugger is facing along the way

It’s not all smooth sailing for Alex Rodriguez and Marc Lore, however. Should they fail to meet the upcoming deadline, the current owner, Glen Taylor, could cancel the deal and keep them as minority owners. Although the first round of payments was proving to be a problem for the former slugger, as he was only able to provide funds for a 7% stake, while his partner, Marc Lore, covered the remaining 13%. 

Despite having a net worth of around $350 million, A-Rod’s financial assets are largely tied up in other investments, making it difficult for him to access the necessary amount.

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