If you’ve missed updates on Alex Rodriguez, don’t worry; you’ll hear more about him soon.
Thursday saw ESPN’s Adrian Wojnarowski report that Rodriguez and Marc Lore were expected to exercise their option to acquire controlling ownership of the NBA’s Minnesota Timberwolves and WNBA’s Lynx as soon as December 28.
ESPN Sources: Marc Lore and Alex Rodriguez are expected to exercise their option to acquire controlling ownership interest of the Minnesota Timberwolves and Lynx from Glen Taylor as soon as today. They have a Dec. 31 deadline. pic.twitter.com/qCYnBZJ0pG
— Adrian Wojnarowski (@wojespn) December 28, 2023
Lore and Rodriguez have until December 31 to finalize their intent to purchase the remaining 40% of the NBA and WNBA franchises from Glen Taylor. Sources told Wojnarowski this will give them a total ownership of 80% of the two teams by early 2024.
In 2021, Rodriguez and Lore agreed to purchase the Timberwolves from Taylor for $1.5 billion, but the deal included a multi-year transition process. For the past three years, they have been paying installments to Taylor before becoming controlling partners of the Timberwolves and Lynx.
In March, Shams Charania of The Athletic reported that Lore and Rodriguez had made a second $290 million payment towards full ownership of the team, which gave them 40% ownership. They had one final payment remaining before becoming majority owners. The payment has been or will be made, officially making them the majority team owners.
Besides being the controlling owner of the Timberwolves and Lynx, Rodriguez also works as an MLB studio analyst for Fox Sports. He works alongside Kevin Burkhardt, David Ortiz, and Frank Thomas. News broke earlier this year that Rodriguez was close to signing a contract extension with Fox Sports. Once the deal is finalized, Rodriguez would continue to serve as the face of the MLB on Fox operation for multiple years. However, the current details of the extension are not available.
It certainly seems that A-Rod is about to make a significant impact in two very different worlds.
[ESPN]
