Bet to Ownership: Alex Rodriguez and $500 Million Rich Entrepreneur Inch Closer With 3 Crucial Moves To Own the Timberwolves

The Minnesota Timberwolves is probably one of the most desired teams in the NBA right now. The team has fared through the 2024 season with excellent results despite the gradual ownership change and has retained the top spot in the Western Conference. As the team inches to playoffs, its minority owners Alex Rodiguez and Marc Lore are on track to increase their ownership as well.

The three-year ownership transition deal has almost reached its conclusion with the end of March soon arriving. Glenn Taylor finds his beloved teams of T-Wolves and Lynx going into capable hands. But, they are still two steps away from making their goal of taking full control of the Timberwolves a reality.

When Marc Lore and the 2009 World Series Champion went into agreement to buy the Timberwolves together, they kicked off the process by acquiring 20% of the shares first. They ended up buying another 20% during the 2022-23 season, during which time the team concluded its run as the eighth seed. The first step that needs to be completed by Alex Rodriguez and Lore is to acquire at least 40% more shares, which will give them the majority control of the Timberwolves.

The second step is directly related to the first one. According to The Athletic, when Alex Rodriguez and Lore purchased their previous 20%, they exercised the option to buy in December 2022 but made the payment in March 2023. The businessmen employed the same method to purchase another 40% stake in the franchise in December 2023. But, to complete this second step, they will have to mandatorily make the payment of these shares by the end of March or the deal will be annulled.

The duo has remained consistent with their payments and is most likely to pay Taylor for the 40% stake purchase. However, Alex Rodriguez and Lore will still have to follow through with another step to become the official new majority owners of the Timberwolves.

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The missing piece of the puzzle for Alex Rodriguez and Marc Lore

The final step requires the purchase to be approved by the NBA Board of Governors. The panel consists of team owners and other representatives responsible for approving the significant changes and operations occurring around the league. Given that the purchase is being finalized with all major parties’ consent and that the Board had earlier approved the bid of Alex Rodriguez and Lore to join the team in 2021, there should hopefully be no hiccups if the other two steps are fulfilled.

In the three years they have been a part of the NBA franchise, Alex Rodriguez and Marc Lore have shown themselves heavily involved in the decision-making activities. From attending many of the team games to talking about the same in interviews, the duo has already established themselves as the face of the Timberwolves. Moreover, they also had a major hand behind the high-profile addition of Rudy Gobert to the team. Looking at the team’s success in just the past few months, fans are hoping that everything goes well come the end of March.

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