Alex Rodriguez-led ownership group close to buying Minnesota Timberwolves

An ownership group featuring MLB legend Alex Rodriguez will make a serious move in the NBA. Rodriguez’s group intends to buy a significant stake in the Minnesota Timberwolves, a team in which he already had purchased a minority ownership stake.

NBA reporter Shams Charania broke the news of A-Rod’s plans. Rodriguez and entrepreneur Marc Lore aim to now finish the process, which will include both the Timberwolves and Minnesota’s WNBA franchise, the Lynx.

“Marc Lore and Alex Rodriguez have submitted signed financial documentation to the NBA to complete the acquisition of majority-controlling ownership of the Minnesota Timberwolves and Lynx from Glen Taylor,” Charania reported. Jon Krawczynski, a longtime area reporter, also joined Charania on the report.

Just in: Marc Lore and Alex Rodriguez have submitted signed financial documentation to NBA to complete acquisition of majority controlling ownership of the Minnesota Timberwolves and Lynx from Glen Taylor, multiple sources with direct knowledge told me and @JonKrawczynski. pic.twitter.com/yKc9WnLDLY

— Shams Charania (@ShamsCharania) March 20, 2024

Interestingly, the news comes hours after reports emerged that the two lost their financial backing. Evidently, they seem to have found a way to make it work if they submit official documentation.

Assuming the deal goes through, Rodriguez would add that ownership to his list of feats. Becoming a majority owner would put him in some rarified air. While players have long pursued minority ownerships, such as Patrick Mahomes and Tom Brady, who’ve backed Sporting KC and the Las Vegas Aces in the pat few years, fully owning a team? Well, Michael Jordan did that with the Charlotte Hornets. So A-Rod would put himself in some very exclusive company.

The T’Wolves are one of the best in the Western Conference this NBA season. So that excitement is palpable, and things appear to be changing in major ways up top.

[Shams Charania]