Mark J. Rebilas-USA TODAY Sports
It looks like Alex “A-Rod” Rodriguez hits home runs on and off the field! On Sunday, it was reported that Marc Lore, former Walmart eCommerce CEO, and Rodriguez are set to purchase the Minnesota Timberwolves for $1.5 Billion.
Current owner Glen Taylor is expected to manage the organization for two years after the deal is approved by all other NBA owners, in order to help ease Rodriguez and Lore into their ownership positions.
According to the New York Times, Taylor purchased the organization for $88 million back in 1994. Regarding this transition, he told the Associated Press:
“They’ve asked that I would be there for any decisions that would need to be made. I would enjoy that. I love teaching people. These are a couple of very bright guys, and I think it could be helpful to the club, and I think I could be helpful to them so that they feel confident once they take over 100%.“
Recently, former Minnesota Timberwolves player Kevin Garnett aired his grievances with Taylor via Instagram, revealing his acquisition group was no longer in consideration to purchase the franchise. Garnett is the most decorated player in franchise history, having won league MVP, appeared in 10 all-star games, and has led the organization to its lone WCF appearance back in 2004.
His inability to secure a bid to purchase the franchise has been met by skepticism by many in the industry.
Rodriguez and Lore had to agree to one major stipulation for Taylor to be comfortable selling, which was that the franchise had to remain in Minneapolis. “There was no use talking to them if they didn’t agree to that,” Taylor said.
All in all, the wealthy pair ($1.4 Billion net worth combined) successfully convinced Taylor to sell, and it will be interesting to see how the Timberwolves fare in the years to come.
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