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Alex Rodriguez will have a 50 percent ownership stake in the franchise.
While he might be recovering from the heartbreak of his breakup with Jennifer Lopez, there is no denying that A-Rod is still dedicated to making some massive moves in the business world. Over the last year, there have been rumors that he could be in the running to purchase the Mets. Of course, that never came to fruition, however, in recent months, he has set his eyes on the Minnesota Timberwolves.
Today, it was reported by Shams Charania of The Athletic that A-Rod and his business partner Marc Lore have officially bought the team for $1.5 billion. Both Lore and A-Rod will own 50 percent of the franchise, which means Rodriguez is putting up $750 million to purchase the team.
The Timberwolves have been in a state of disarray over the last few years as their results on the court have been less than stellar. While it remains to be seen how new ownership will change this, there is no denying that A-Rod will be bringing a ton of passion to his new role as owner.
Having former athletes in ownership roles is definitely a welcomed trend and it will be fun to see how A-Rod embraces his new position.
Stay tuned to HNHH for more news from the world of basketball.
Ronald Martinez/Getty Images
Alex Rodriguez will have a 50 percent ownership stake in the franchise.
While he might be recovering from the heartbreak of his breakup with Jennifer Lopez, there is no denying that A-Rod is still dedicated to making some massive moves in the business world. Over the last year, there have been rumors that he could be in the running to purchase the Mets. Of course, that never came to fruition, however, in recent months, he has set his eyes on the Minnesota Timberwolves.
Today, it was reported by Shams Charania of The Athletic that A-Rod and his business partner Marc Lore have officially bought the team for $1.5 billion. Both Lore and A-Rod will own 50 percent of the franchise, which means Rodriguez is putting up $750 million to purchase the team.
The Timberwolves have been in a state of disarray over the last few years as their results on the court have been less than stellar. While it remains to be seen how new ownership will change this, there is no denying that A-Rod will be bringing a ton of passion to his new role as owner.
Having former athletes in ownership roles is definitely a welcomed trend and it will be fun to see how A-Rod embraces his new position.
Stay tuned to HNHH for more news from the world of basketball.
