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Former Major League Baseball player, Alex Rodríguez, and his partner, the businessman Marc Lore reached a millionaire agreement to purchase the NBA team Minnesota Timberwolves.
According to the journalist Shams Charania , this Thursday the deal was closed for the acquisition of the franchise for the incredible amount of $ 1.5 billion dollars.
Former MLB star Alex Rodriguez and tech entrepreneur Marc Lore have reached agreement to purchase the Minnesota Timberwolves from Glen Taylor for $ 1.5 billion, sources tell @ TheAthletic @ Stadium .
– Shams Charania (@ShamsCharania) May 13, 2021
Two weeks ago the Dominican had informed that the agreement for the purchase of the equipment was in process, but apparently, it is already a fact.
Rodriguez and Lore are expected to sign formal paperwork shortly, and sources say A-Rod and Lore are equal, 50 – 50 partners in the purchase. https://t.co/9u5GqadCLH
– Shams Charania (@ShamsCharania) May 10, 2021
Charania also reported that each partner will have the 50% of the shares of the franchise.
The deal also includes the purchase of the WNBA Minnesota Lynx team , as reported in a Star Tribune report.
Former Major Leaguer Alex Rodriguez and billionaire Marc Lore are finalizing a deal to purchase the Minnesota Timberwolves from majority owner Glen Taylor, sources tell ESPN. Taylor will continue full control of team for two years before Rodriguez and Lore take over in 2023.
– Adrian Wojnarowski (@wojespn) April 10, 2021
Regarding the agreement, ESPN journalist in the United States Adrián Wojnarowski interviewed Rodríguez and Lore, do you want to affirm: “ We are excited about the prospect of knowing the organization of the Timberwolves , the talented team and their incredible fans. ”
Apparently Rodríguez and Lore would take command of the team in the 2023, so Glen Taylor, current owner, he will remain in the position during this and next season.
This is not the first time that Álex Rodríguez intends to buy a team. He previously tried to acquire the New York Mets, along with Jennifer Lopez , who at that time was his fiancée.