ALEX RODRIGUEZ and Marc Lore have finally completed their purchase of the Minnesota Timberwolves.
Billionaire businessman Glen Taylor, 83, has owned the team since 1994, paying $94 million to do so.
Forbes valued the team at $3.1billion last year, one of the least valuable NBA organizations, though still more than treble Taylor’s initial investment.
Rodriguez and Lore first attempted to buy the team in 2021, offering $1.5bn for both the Timberwolves and their WNBA counterpart the Minnesota Lynx.
That deal relied on a multistage acquisition plan which would see them increase their stake in the team over time.
But the move fell through when Taylor pulled out in March 2024, claiming Rodriguez and Lore had missed a scheduled payment.
The buyers responded, saying that Yalor was suffering from “seller’s remorse after “an unfortunate case of seller’s remorse” after seeing the Phoenix Sun sell for $4bn in 2022.
After four years of negotiating, the pair will finally take over the team in its entirety.
The deal was sent to arbitration court as Taylor attempted to derail proceedings.
The court ruled in favour of Rodriguez and Lore in February.
The NBA Board of Governors still have to ratify the deal, though this should be little more than a formality.
The Timberwolves are one of five teams to have never contested an NBA playoff final while the Lynx have won four championships, most recently in 2017.
Rodriguez will hope his success as a World Series winner with the Yankeez will translate into on-court wins for the long struggling Timberwolves.
The Timberwolves were involved in an ugly brawl with the Detroit Pistons last week.
Seven players and coaches were ejected in the shocking incident.
Players started jawing at each other with 8:36 left in the quarter after Ron Holland II of the Pistons and Naz Reid of the Timberwolves got in a verbal argument.
At that point, Minnesota guard Donte DiVincenzo swooped in to separate the two, but got too physical with Holland.
This prompted Holland to shove him which sparked the brawl.
Players, coaches, and trainers all swarmed into a pile that ultimately started spilling over into the stands.
Fans attempted to scoot out of the way and a cameraman was even knocked over and engulfed in the brawl.
The Pistons saw head coach JB Bickerstaff, Isaiah Stewart, Holland, and Marcus Sasser tossed from the game.
The Timberwolves had DiVincenzo, Reid, and assistant coach Pablo Prigoni ejected.
After the game was completed and the mess mopped up, the NBA reviewed the fight and decided on punishments for involvement.
Stewart received a two-game suspension for “escalating” the brawl.
Holland, Sasser, Reid, and DiVincenzo all received one game suspensions for their involvement.
None of the coaches received suspensions for their ejections from the game.
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