Days After Billionaire Michael Jordan Dropped $1,700,000,000 Bombshell, MLB Legend Alex Rodriguez Makes Him Bite the Dust

Interest in NBA teams continues to rise among investors. With players signing record-breaking deals, the NBA is a bankable assurance not just for the players, but for the owners and investors as well. The current situation around the Charlotte Hornets is a prime example. With the team currently valued at around $1.7 billion, Michael Jordan is sure to table a huge profit on the $180 million investment he made back in 2010 after the reported sale goes through. Although MJ’s latest update regarding the Hornets had shocked the world, MLB legend Alex Rodriguez‘s contrasting decision left the NBA community in a frenzy.

Michael Jordan took the internet by storm after deciding to sell his ownership stake in the Hornets, considering the team’s disappointing performance under his ownership. Although MJ didn’t get to taste the same success as he did during his playing days, he can look back at it as a great business investment. With that in mind, E-commerce magnate Marc Lore was joined by A-Rod to actively pursue ownership in the Minnesota Timberwolves, the team owned by Glen Taylor, in 2021 and the duo is edging closer to completing the deal.

Alex Rodriguez and Marc Lore inch closer to fulfilling their dream

Marc Lore is one of the most influential businessmen in the country and he’s often mentioned his desire of wanting an ownership stake in an NBA team. However, MLB legend A-Rod’s appearance was a surprise for the NBA buffs. In 2021, Marc Lore and Alex Rodriguez agreed to purchase the Minnesota Timberwolves in a billion-dollar deal.

Currently owned by Glen Taylor, a Minnesota politician, the Timberwolves’ majority ownership will be taken up by Rodriguez and Lore. After agreeing to sell the team over three installments in a span of two years, Taylor will eventually transition out from the franchise he’s owned since 1994.

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A-Rod and Lore purchased 20% of the team back in 2021. Two years later now, A-Rod and Lore have made their second installment of $290 million. The group now owns 40% of the team. They are one more payment away from becoming the majority owners of the franchise.

Further, Alex Rodriguez has made history by making the largest cash input by a pro athlete, leaving the legendary Michael Jordan behind. MJ had reportedly paid $180 million to purchase the Hornets in 2010. However, A-Rod’s payment of over $200 million has left His Airness biting the dust. The transaction also includes ownership in the Timberwolves’ WNBA sister club, the Minnesota Lynx.

A look into Minnesota Timberwolves amid Rodriguez and Lore’s decision

Standing as the 6th seed in the West, the Minnesota Timberwolves are a few games away from making it to the playoffs. However, it is not easy to bag a win in the wild west. Considering the team’s four-game win streak, there seem to be high hopes for the Wolves.

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Moreover, the main star Karl-Anthony Towns recently made his return to the team from an injury at the right time. The T-Wolves made it to the playoffs last year. In a tight matchup with Ja Morant‘s Memphis Grizzlies, the Wolves lost in the very first round. However, only time shall let us know if they can get past it this year.