Report: Alex Rodriguez ownership group finalizes deal to take over Timberwolves

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After a brief period of uncertainty, former Yankee slugger Alex Rodriguez is indeed becoming part of the ownership group for the Minnesota Timberwolves.

Just two days after their exclusive 30-day negotiating window came to a close, Rodriguez and tech entrepreneur Marc Lore have reached an agreement to purchase the Timberwolves for $1.5 billion, according to The Athletic’s Shams Charania.

Rodriguez and Lore, in completing the deal, make sure that an ownership group headed by former Knicks guard Arron Afflalo will not swoop in, which Afflalo reportedly planned to do once the eclusive negotiating window expired.

With the deal, Rodriguez becomes an owner of a professional sports team after failing to do so with the Mets, who were eventually sold to Steve Cohen. Current Timberwolves owner Glen Taylor said last month that he intended to sell the team to Rodriguez and Lore, and it looks like that is about to become official.

Rodriguez, who won a World Series with the Yanks in 2009, will have plenty of work ahead of him if he is to get Minnesota to similar heights in an ownership role. The Timberwolves have one of the worst records in the league this season at 22-47, and have made the playoffs just once since 2004.

Follow Ryan Chichester on Twitter: @ryanchichester1

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