Alex Rodriguez in line to become an owner of the Minnesota Timberwolves
After falling short of his bid to buy the New York Mets, Alex Rodriguez and friend Marc Lore are finalizing a deal to buy the Minnesota Timberwolves
It’s no secret Glen Taylor has wanted to sell the Minnesota Timberwolves, but the process has never gotten particularly far (much to the chagrin of the team’s fans, or those who generally care about, analyze or follow the team). But according to multiple reports, former MLB All-Star Alex Rodriguez and friend Marc Lore, the former CEO and president of Walmart U.S. eCommerce, are finalizing a deal to buy the Timberwolves.
According to Jon Krawczynski of The Athletic, Rodriguez and Lore have signed a letter of intent that gives them a 30-day exclusive negotiating window to buy the team. If (when?) a deal is done, they would serve as limited partners for 2.5 years before taking control of the franchise.
At first glance I say a 2.5-year “learning period” under Taylor before taking control of the Timberwolves is not typical, and a little weird. But Rodriguez and Lore are clearly fine with that. According to Chris Hine of the Minneapolis Star Tribune, the deal will include the WNBA’s Minnesota Lynx, which Taylor also owns.
Rodriguez was notably part of a bid to buy the New York Mets recently, before Steve Cohen bought the team. So he clearly has team ownership in his plans.
A notable desire of Taylor’s whenever he sold the Timberwolves is the team staying in Minnesota. That stipulation is reportedly in the deal with Rodriguez and Lore. According to Krawczynski, the sale price will be $1.5 billion. Taylor bought the team for $88 million in 1994, saving it from a possible move to New Orleans.
From this view, it makes little sense for a deal to buy the Timberwolves to include a stipulation that the team can never move. While Rodriguez and Lore own it is obvious, but what if they own it for 25 years? Not to sound dark or morbid, but is the stipulation going to be tied to Taylor’s life span? He’ll turn 80 on April 20.
Minnesota can be a great basketball market, but if the Timberwolves continue to be bad they won’t draw fans to games and people won’t watch them on tv. Money drives these things, don’t forget that. If the grass is greener in Seattle, Kansas City, etc. and those markets remain open, the league will have no issue with a team moving. But the optimistic view is Rodriguez and Lore will be very good owners, and they won’t take too much advice on how to competently run a basketball franchise from Taylor over the next 2.5 years.
What do you think, Timberwolves fans and followers? Will A-Rod be a good NBA owner? Click the comment button below to tell me, or give me any other thoughts on the sale of the team.
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