Alex Rodriguez and Marc Lore finalizing deal to become new owners of Minnesota Timberwolves: report

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Colin Martin
·1 min read
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Alex Rodriguez smiling with phone in hand
Alex Rodriguez smiling with phone in hand

Alex Rodriguez and close friend Marc Lore are reportedly finalizing a deal to become the new owners of the Minnesota Timberwolves, according to ESPN's Adrian Wojnarowski.

Majority owner Glen Taylor will remain in control of the team for two years before Rodriguez and Lore take over in 2023.

This comes just a couple of months after Rodriguez and Jennifer Lopez were trying to purchase the Mets, before Steve Cohen ended up buying the team. According to reports, the Rodriguez/Lopez initial bid to purchase the Mets was $1.7 billion. But Cohen’s final bid, which was approved by MLB owners in late October, reportedly valued the franchise at “approximately $2.475 billion.”

Rodriguez and Lore put out a statement regarding the negotiating process:

We look forward to entering this phase of the process with Glen Taylor. Our respect for him and the legacy he has built lays an amazing foundation for what is to come. We are excited by the prospect of getting to know the Timberwolves organization, the talented team, and their incredible fans.

Taylor purchased the Timberwolves for $88.5 million in 1995, just five seasons after the team entered the NBA in 1989. They are worth a reported $1.4 billion and are the 28th valued franchise in the league, according to Forbes.