Alex Rodriguez and Marc Lore have closed a second, $290 million payment towards full ownership of the Minnesota Timberwolves and Minnesota Lynx. They currently own 40% of the team, and will now have one more payment before becoming majority owners, reports The Athletic's Shams Charania.
Rodriguez and Lore made an initial payment to outgoing owner Glen Taylor in July 2022, to which Charania suggests was equal to the $290 million amount. It looks like it won't be long until Rodriguez and Lore become captains of the ship.
Continuing his stake in the Timberwolves is just one of the many outlets Rodriguez has brought into his life after his MLB playing career. He is a perennial analyst for MLB coverage on Fox Sports, and is the chairman and CEO of A-Rod Corp as well as the chairman of Presidente Beer.
Given the substantial earnings Rodriguez made during his playing career, it comes as no surprise that he has become such a high stakes investor off the diamond. Over the course of his MLB career, Rodriguez earned $441,285,104 through contracts and salary. He is still the highest paid MLB player in the history of the Dominican Republic.
The ownership stake in the Minnesota Timberwolves comes at a great time in franchise history. They have two true franchise cornerstones in Karl-Anthony Towns and Anthony Edwards. They are looking to make a playoff run this season, but in general seem to be set up for success over the coming years. Alex Rodriguez and Marc Lore will be excited to watch their investment produce both on and off the court.