MINNEAPOLIS — The Minnesota Timberwolves and Lynx could be officially under new ownership by early 2024, according to reports.
ESPN NBA Insider Adrian Wojnarowski said sources have confirmed that Marc Lore and Alex Rodriguez are expected to exercise their option to acquire controlling ownership of the two franchises at any time, setting them up to potentially have majority ownership by early 2024. The official deadline for them to exercise their option is Sunday, Dec. 31, 2023.
According to Wojnarowski, the action would formalize Rodriguez and Lore's intentions of purchasing an additional 40% of the franchise from longtime owner Glen Taylor. The NBA Board of Governors would need to approve the majority purchase, but should that go through, Rodriguez and Lore would have 80% ownership of the Wolves and Lynx.
Former MLB star Rodriguez, and Lore, a former executive for Walmart, signed a letter of intent in April of 2021 to purchase the two teams from Taylor for a reported $1.5 billion. The sale was approved by the league in July 2021, officially starting a new chapter for both teams.
Rodriguez retired from baseball in 2016 after 22 seasons in the MLB, including 10 with the New Yankees where he helped win a World Series in 2009. He finished his career a 14-time All-Star, 10-time Sliver Slugger, three-time AL MVP and two-time Gold Glove winner. Rodriguez was also linked to two separate performance-enhancing drug scandals throughout his career, including the Biogenesis scandal in 2013.
After walking away from baseball, he transitioned to television where he made appearances on several shows, including Good Morning America, Shark Tank and FOX Sports.
Rodriguez still appears on FOX Sports as a special contributor during the baseball season.
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