It’s not uncommon for ex-star athletes to move into team ownership roles after their playing careers have come to an end, but this former MLB player-NBA ownership match certainly came out of left field.
According to reports from Jon Krawczynski of The Athletic, former three-time MLB MVP Alex Rodriguez and his close friend/Jet.com CEO Marc Lore have signed a letter of intent and are in the midst of negotiations with longtime owner Glen Taylor to become the next owners of the Minnesota Timberwolves.
Now that the letter of intent has been signed, A-Rod and Lore have 30-day exclusive negotiating window with Taylor. If an official deal is signed, the two would serve as limited partners for two and a half years. The idea behind this arrangement is a plan involving Taylor serving in a mentorship role for the first-time owners before handing over the franchise.
The NBA world was shocked to hear this news to say the least.
What in the world 🧐 https://t.co/8g613kTBip
— Annie Sabo (@anniesabo_) April 10, 2021
I’m sorry, what? https://t.co/cNwidjSxof
— haley (@haley_darling) April 10, 2021
This was my guess for T-Wolves ownership from the start. https://t.co/aY5PkwNZTh
— Jody Norstedt (@NorstedtMidcoSN) April 10, 2021
What the hell just happened https://t.co/vde5TaW9Fo
— Mihrab Samad (@SamadMihrab) April 10, 2021
When Taylor put the team up for sale, talk about moving the franchise to a larger market (ie. Las Vegas, Seattle, New York) began swirling around the league. Despite Taylor’s assertions that he would only sell the team to prospective owners who were willing to keep the team in Minneapolis, many fans believe A-Rod will look into moving the organization.
Rodriguez played the first seven years of his MLB career in Seattle. Las Vegas has also been considered as a booming market for a professional franchise to thrive. Obviously the baseball superstar has deep ties to New York as well.
Aight so we getting relocated https://t.co/o1hencmEkK
— matty (@matty6___) April 10, 2021
Uhhhh I can't imagine this is good for the team staying? https://t.co/UWhQ4JEaI7
— Mike (@uofmike) April 10, 2021
Las Vegas Wolves…? https://t.co/niyu2Iw2aV
— Alex Golden (@AlexGoldenNBA) April 10, 2021
Well now New York will have 3 teams 😓😓 https://t.co/AOvc1PmvXa
— saint nick (@nicklathrop2) April 10, 2021
A-Rod isn’t the only former athlete who was gunning for this ownership position. Timberwolves legend Kevin Garnett also got an ownership group together in attempts to purchase the team. But, Taylor shut down those negotiations before they could even begin earlier this year.