NEW YORK, NY – MAY 08: Sports commentator and former professional baseball player Alex Rodriguez takes part in a panel during WSJ’s The Future of Everything Festival at Spring Studios on May 8, 2018 in New York City. (Photo by Michael Loccisano/Getty Images)
Alex Rodriguez reportedly took another important step in his ownership of the Minnesota Lynx and Minnesota Timberwolves on Thursday.
According to Jon Krawczynski and Shams Charania of The Athletic, Rodriguez and partner Marc Lore exercised their option to buy the next 20% of the Timberwolves and Lynx.
The two men joined the ownership group for both franchises in 2021 and agreed to buy the two teams in installments.
“They now will have until March 15 to close the second 20 percent, which would bring them to 40 percent ownership, the sources, who spoke on condition of anonymity because they were not authorized to speak publicly about private business dealings, said,” Krawczynski and Charania wrote. “The next step will be to purchase another 40 percent of the team. Lore and Rodriguez have until Dec. 31, 2023 to exercise that option.”
Since becoming part of the Timberwolves’ ownership, Rodriguez has been involved in the team’s dealings and has been a noticeable presence at games.
The former MLB star and Lore, an entrepreneur, are in the process of replacing Glen Taylor as the primary owner of both Minnesota basketball franchises. Taylor has owned the Timberwolves since 1994 and the Lynx since 1999.
Rodriguez has said in the past that he and Lore intend to keep the Timberwolves in Minnesota.
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