A-Rod’s group buys the Timberwolves for $ 1.5 billion

The former player and legend of American baseball Alex Rodriguez and the businessman and entrepreneur Marc lore they have finished the purchase of the Minnesota Timberwolves for $ 1.5 billion, a news that was confirmed last night in the American media after several weeks of rumors and negotiations. The agreement also includes the sale of the WNBA franchise of the city of Minneapolis, the Minnesota Lynx.

The franchise’s plan is now to begin two years of transition between the groups of the previous owner, the octogenarian businessman from Minnesota. Glen taylor, and the new franchise holders. Taylor, who owns the city’s leading newspaper, the Star Tribune, bought the franchise in 1994 for $ 88 million to prevent the team from being moved to New Orleans.

The current agreement also includes, as explained by the previous owner, a clause that obliges the new owners to keep the equipment in the city from Minneapolis, although these details have not been confirmed by either party. In other news
they had put Seattle on the radar of these new Wolves.

The NBA Board of Governors, made up of all the franchise owners of the American league, must now approve the operation, although pitfalls are not expected.

The Wolves have a lease of his pavilion in Minneapolis, the Target Center, until 2035But the deal can be broken by paying a $ 50 million clause.

Alex Rodriguez, 45 years old, He made a career in the MLB for 22 seasons with the New York Yankees, the Seattle Mariners and the Texas Rangers. His last season was in 2016, and his career was tainted by a doping scandal for which he missed the entire 2014 season, suspended for the competition.

Marc Lore,
49 years old, became Walmart’s head of e-commerce in 2016 and this year retired from his permanent position at the company to pursue new challenges, including the purchase of the Timberwolves that he will share 50% with Rodríguez.

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