Michael Bloomberg joins Alex Rodriguez in the Minnesota Timberwolves acquisition

Michael Bloomberg joins Alex Rodriguez in the Minnesota Timberwolves acquisition

Alex Rodriguez had been struggling to find the ideal partner who could help provide the funds to make a nearly complete take over of the Minnesota Timberwolves. Currently, Rodriguez on his own is still a minority owner but he just made a brilliant move for the nearly complete takeover. Back in March, the Minnesota Timberwolves owner Glenn Taylor publicly stated he wouldn’t be selling his controlling stake in the franchise. But this latest move aims to sway the owner to finally sell that controlling stake that would give Alex Rodriguez’s group to an 80% control of all the stakes. Effectively, A-Rod and his partners would be the de facto owners of the Timberwolves. The Athletic’s Shams Charania was the one who broke the story before anybody else. Alongside Alex Rodriguez, minority owner Marc Lore is the one who partnered with the MLB legend to make the move.

A drunk Alex Rodriguez hilariously sings Sweet Caroline

How much of the Timberwolves’ stake does A-Rod have?

Back in 2021, Alex Rodriguez made the decision to venture into the NBA team owner game with buying 40% of the Minnesota Timberwolves alongside Marc Lore. But Taylor denied that complete buy and both minority owners had to keep moving their strings. Michael Bloomberg was the one that decided to join both Alex and Marc, which gives them a massive push. Michael Bloomberg is currently the 12th wealthiest person in the world with a $106.2 billion fortune. Also, this move made both sides reconsider and maintain hope that a deal can happen. Currently, the sum that prevents this deal from taking place is $300 million.

Another issue here is that the complicated relationship between Taylor and his two minority owners might be a reason everything takes place at a slow pace. Both sides are currently in arbitration and they don’t look like they will rap things up until the late summer. There is no indication that any major structural change is going to happen overnight. Rodriguez already knew the life of a professional sports owner due to his previous filed attempt to buy the New York Mets alongside his former fiance, Jennifer Lopez. Can Michael Bloomberg tip the scale in A-Rod’s favor?

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