A-Rod’s transition from tape-measure pictures to three-point bombs appears to be full.
In response to ESPN’s Adrian Wojnarowski, Mark Lore and Alex Rodriguez are exercising their choice to accumulate controlling possession within the Minnesota Timberwolves and Minnesota Lynx. The 2 will double their possession stake within the groups, changing into majority house owners by early 2024.
The bulk buy remains to be topic to approval by the NBA Board of Governors.
Rodriguez and Lore have been slowly accruing a higher state over the Timberwolves in the previous couple of years. When the 2 initially agreed to buy the group from longtime proprietor Glen Taylor in 2021, the $1.5 billion settlement got here with a novel stipulation for a multi-year transition course of. Taylor received extra time to carry onto his group, whereas Rodriguez and Lore may take a couple of years to be taught extra concerning the league.
In 2023, the 2 vested one other $290 million cost towards their group buy. The third cost agreed to right this moment is the ultimate within the transition section, giving Lore and Rodriguez 80 % of each the Timberwolves and Lynx.
Taylor initially bought the Timberwolves for $94 million in 1994, shopping for the Lynx 5 years later. Within the 30 years Taylor served as proprietor, the Timberwolves made the postseason simply 11 occasions and gained two postseason collection in that span.
The previous Yankees third basemen and billionaire entrepreneur have already had some involvement within the group’s basketball operations. Rodriguez and Lore signed president of basketball operations Tim Connelly to a five-year, $40 million contract and finalized the commerce for Rudy Gobert.
The highest-seeded Timberwolves are off to their hottest begin in franchise historical past. Minnesota’s 22-7 document is the franchise’s greatest profitable share by 29 video games, according to Stathead.
