Alex Rodriguez Set to buy Timberwolves: Alex Rodriguez has finally put his dream to reality of owning a franchise in the sports industry. He was in the running to buy the New York Mets, but ultimately fell short as Steve Cohen and his group won the bid.
Rodrguez is no stranger to making money in the realm of business as he has invested in many start-ups, real estate, appeared on Shark Tank, and many other types of businesses post his playing career.
OWNING PART OF THE MINNESOTA TIMBERWOLVES
Alex Rodriguez and billionaire Marc Lore are finalizing a deal that would give them full ownership of the Minnesota Timberwolves and Minnesota Lynx in a few years. The deal is set to hover around 1.5 billion dollars with a 30-day window to get the deal done, and would need the league to approve the sale of the franchises.
Current owner Glen Taylor would still have control of both teams until the year 2023. In a recent interview, Glen Taylor stated that everything went well and both sides agreed to the terms that were presented.
The two future owners said in a statement, “We look forward to entering this phase of the process with Glen Taylor,… Rodriguez and Lore “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.
There were a couple of rumors swirling around which involved a possible relocation of the franchise to the city of Seattle. Rodriguez may be most notably known for his career with the New York Yankees, but he was drafted by the Seattle Mariners with the first overall pick in the 1993 MLB draft.
He still has strong ties to the city as he spent seven years with the Mariners. The city hasn’t seen an NBA team since the 2008 season as their beloved Seattle Supersonics relocated and rebranded to Oklahoma and thus becoming the Oklahoma City Thunder.
Ever since buying the team in 1994 Glen Taylor’s Minnesota Timberwolves only made the playoffs once in the last 17 years even though they had a star like Kevin Garnett. On the other hand, the Lynx have won six conference titles and four WNBA Championships since joining the league in 1999.
WHAT TO EXPECT FROM THE TIMBERWOLVES
The Timberwolves (14-40) have been struggling to win games in the league, especially in the tough Western Conference. The franchise has also struggled to keep players for the long run as the city has difficulty competing with cities like Los Angeles, New York, Miami, etc. However, the Minnesota Timberwolves may see some brighter days as the Lynx, Twins, and Wild have done well.
The Timberwolves have a young core the new owners can build around. The franchise player, Karl-Anthony Towns isn’t becoming a free agent until 2024 and D’Angelo Russell hitting free agency in 2023. The Timberwolves also have potential Rookie of the Year, Anthony Edwards for a while.
Even though Malik Beasley has some issues off the court, he has improved exponentially after coming over from the Denver Nuggets via trade. Lastly, the team has a draft pick that could end up in Minnesota because it is top 3 protected because the franchise currently has the worst record in the NBA.
If the pick falls below the top three, the pick will go to the Golden State Warriors because of the trade that sent D’Angelo Russell to the Timberwolves and Andrew Wiggins the other way.
Rodriguez will also not be able to relocate the team to Seattle as he and Marc Lore signed the letter of intent to keep the franchise in Minnesota.