Michael Bloomberg Agrees To Join A-Rod Ownership Group to Buy Timberwolves

If Alex Rodriguez wanted money — he is now received it in spades — ‘trigger the baseball legend struck a take care of Michael Bloomberg, one of many richest folks on this planet, who has now joined A-Rod’s Timberwolves possession group … as the lads intend to purchase an 80% stake within the staff.

The Athletic broke the information on Thursday (and TMZ Sports activities has since confirmed), revealing the 82-year-old billionaire and former NYC mayor has agreed to hyperlink up with Rodriguez and his enterprise companion, Marc Lore, of their quest to amass majority management of the T-Wolves group.

FYI, Alex and Marc purchased a 40% stake in 2021, and in the end deliberate to purchase almost the entire staff (and the WNBA’s Minnesota Lynx, too) … till 83-year-old majority proprietor Glen Taylor accused the lads of lacking a fee and called off the deal.

Rodriguez and Lore denied the accusation … and have been adamant they’d greater than sufficient inexperienced within the financial institution.

Wherever the reality lies, cash actually will not be a problem going ahead. Bloomberg is the twelfth richest individual on this planet, in response to Forbes, with a web value of $106.2 billion.

By including the previous mayor, there’s hope the events can proceed with the deal, and ship Taylor on his means … which might value round $300 million to finish.

The strained relationship may gradual issues down going ahead. The edges are at the moment in arbitration and will not probably be wrapped up till someday this summer time. So, most likely secure to say nothing is straight away imminent.

It isn’t A-Rod’s first try at shopping for knowledgeable sports activities franchise. The 3x AL MVP tried to purchase the New York Mets along with his then-fiancée Jennifer Lopez again in Could of 2020 … however in the end struck out, shedding the staff to the immensely rich Steve Cohen. A 12 months later, he began working with Lore to amass the T-Wolves from Taylor.