Alex Rodriguez, a former MLB alum, is angling to get his hand in the NBA world. Alex appeared to have accomplished his goal after coming to an agreement with Marc Lore to purchase the Timberwolves for $1.5 billion.
But now, new sources claim that there are some questions about whether A-Rod actually has the capital to get the deal done.
“Alex and Marc were supposed to be 50/50,” an NBA source said. “Alex couldn’t come up with his half. Now, the terms of the deal require A-Rod and Lore to make the next 20% payment by year’s end, and A-Rod is scrambling to raise his half in addition to the cash he needs for the down payment, the three sources confirmed.
“I wouldn’t be surprised if A-Rod becomes a subservient No. 2 to Lore,” a source said, predicting that Lore might end up buying more than half and controlling the team.
Without admitting or denying that he has a larger ownership stake than A-Rod, Lore told The Post that the two still make all decisions together.
“I couldn’t imagine having a better partner. He is one of my best friends,” Lore said Monday. “There is no one else I would rather be partners with than Alex.”
Rodriguez was dating Jennifer Lopez for a while before their breakup, which may be why finding the funds for the sale is proving difficult for the former baseball mega-star.
According to sources familiar with the situation, A-Rod frequently called for meetings with prospective business partners at the power couple’s lavish homes in Bel-Air and the Hamptons — and Lopez was typically on the premises.
“You always took your A-Rod meeting with J.Lo,” the source said. “She is coming in and out of the room with workout clothes.”
“A-Rod always made it seem like they were investing as a couple,” the source added.
As per Fadeawayworld, although A-Rod’s plans for the Timberwolves are still unknown, there have been rumors that he is attempting to relocate the team to Seattle. Whatever the case, considering the franchise’s track record of failures, a change in ownership wouldn’t be disastrous.
Rodriguez’s ability to complete this sale will be determined in due time, but it could have pretty major implications for the Wolves and the NBA if he has to back out.