Alex Rodriguez and Entrepreneur Marc Lore Reach Agreement to Buy NBA's Timberwolves: Report
The former MLB player and tech entrepreneur Marc Lore have agreed to a $1.5 billion purchase of the NBA's Minnesota Timberwolves from owner Glen Taylor
The former MLB player and tech entrepreneur Marc Lore have reportedly agreed to a $1.5 billion purchase of the NBA's Minnesota Timberwolves from owner Glen Taylor, Shams Charania of The Athletic reported on Thursday.
According to Sports Illustrated, Rodriguez and Lore are expected to be 50/50 partners in the deal. Lore is a former e-commerce chief with Walmart, while Rodriguez was a longtime star member of the New York Yankees.
The group will become owners of both the Timberwolves and the WNBA's Minnesota Lynx during the 2023-2024 season, the outlet said.
Representatives for the Timberwolves did not immediately respond to PEOPLE's request for comment.
This isn't the first time Rodriguez had tried to become an owner of a sports team. Last year, Rodriguez attempted to buy the New York Mets, but was eventually beat out by billionaire hedge fund manager Steve Cohen, according to NJ.com.
In an interview, Rodriguez said he imagined the Mets as being an "entertainment sports media platform" with "baseball [being] a small part of it."
"We then thought that we can energize and turbo-charge the network by changing and mixing up programming a little bit, and by even getting better and higher talent," he told Sportico. "So baseball was a small part of it, it wasn't everything."
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"We felt we could buy this for $2.35 billion and over time make this a $10 or 15 billion holding company, much like the Fenway Group has done over in Boston," he added.
The interview may shed some light on what Rodriguez has planned for the Timberwolves.