Alex Rodriguez missed out on his bid to own the Mets, but he is about to purchase another professional sports team.
According to Adrian Wojnarowski, the former Yankee and billionaire Marc Lore are finalizing a deal to purchase the Minnesota Timberwolves, currently run by majority owner Glen Taylor.
Per Wojnarowski, Rodriguez and Lore would take control of the team in 2023. Lore is the former president of WalMart.
Rodriguez and his fiancé Jennifer Lopez were beaten out by Steve Cohen to purchase the Mets last year, and Rodriguez has now shifted to a new league to become an owner.
“We look forward to entering this phase of the process with Glen Taylor,” Rodriguez and Lore said in a statement. “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.”
Jon Krawczynski of The Athletic reported that Rodriguez and Lore have a 30-day negotiating window, and once the deal is finalized, they would be limited partners until taking complete control in 2023.
Rodriguez, the highest-paid baseball player of all time with more than $450 million in career earnings, will inherit a Timberwolves team with Lore that has only made the playoffs once since 2004, and is currently 13-40 on the season, the worst mark in the NBA.
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