BEVERLY HILLS, CA – FEBRUARY 24: Alex Rodriguez (L) and Jennifer Lopez attend the 2019 Vanity Fair Oscar Party hosted by Radhika Jones at Wallis Annenberg Center for the Performing Arts on February 24, 2019 in Beverly Hills, California. (Photo by Dia Dipasupil/Getty Images)Last year, former baseball star Alex Rodriguez tried and failed to become the new owner of the New York Mets. Instead, he’ll now be entering the NBA world.
A-Rod is in negotiations to become the next owner of the Minnesota Timberwolves, according to Jon Krawczynski of the Athletic.
“3-time MLB MVP Alex Rodriguez and close friend Marc Lore have signed a letter of intent and are negotiating with Glen Taylor to become the next owners of the Minnesota Timberwolves, sources tell @TheAthletic,” Krawczynski detailed via Twitter. “A-Rod and Lore have a 30-day exclusive negotiating window with Taylor. If a deal is finalized, they would serve as limited partners for 2 ½ years before taking control of the Wolves.”
If this is finalized, Glen Taylor would resume full majority for the next two years. Rodriguez and his business partner, Marc Lore, would then take full control in 2023.
A-Rod and Lore have a 30-day exclusive negotiating window with Taylor. If a deal is finalized, they would serve as limited partners for 2 ½ years before taking control of the Wolves, sources tell @TheAthleticMIN
— Jon Krawczynski (@JonKrawczynski) April 10, 2021
Alex Rodriguez wasn’t the only sports celebrity trying to become the new owner of the Minnesota Timberwolves.
Former NBA star Kevin Garnett, well regarded as the greatest player in Timberwolves’ history, attempted to become a part-owner of the franchise, but his attempt failed.
Rodriguez has some experience in that department. He tried to purchase part-ownership of the New York Mets last year. His bid failed, giving way to Steve Cohen to win the bidding war.
Baseball is obviously Rodriguez’s expertise, but with no ownership opportunities in MLB at the moment, he’ll try his hand in the NBA. If finalized, he’ll become part-owner this year and then full-owner of the Timberwolves in 2023.