Bet on ownership: Alex Rodriguez and $500 million entrepreneur move one step closer to Timberwolves ownership with three key moves

The Minnesota Timberwolves are probably one of the hottest teams in the NBA right now. Despite a gradual change in ownership, the team made it through the 2024 season with great results and maintained their lead in the Western Conference. Minority shareholders Alex Rodiguez and Marc Rohr are on track to increase their ownership as well, as the team inches closer to the playoffs.

The three-year ownership transition agreement is almost coming to an end, with the end of March coming soon. Glen Taylor realizes his beloved T-Wolves and Lynx teams are in capable hands. However, he is two steps away from realizing his goal of taking full control of the Timberwolves.

When Marc Rohr and the 2009 World Series champions agreed to buy the Timberwolves together, they started the process by acquiring 20% ​​of the stock. They ultimately purchased an additional 20% during the 2022-23 season, during which the team finished as the No. 8 seed. The first step Alex Rodriguez and Roa need to complete is acquiring at least a 40% stake, which would give them majority control of the Timberwolves.

The second step is directly related to the first. According to a reporter for The Athletic, when Alex Rodriguez and Lorre purchased their previous 20% stake, they exercised their purchase option in December 2022, but the payment is now due in March 2023. The businessmen used the same method to purchase a further 40% stake in the franchise in December, but to complete this second phase, payment for these shares must be made compulsorily by the end of March. Yes, and if not, the transaction is void.

The two have been consistent in their payments and will most likely pay Taylor for the 40% stake. But Alex Rodriguez and Lore will need to take yet another step to officially become the new majority owners of the Timberwolves.

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The missing puzzle piece for Alex Rodriguez and Marc Roi

The final step requires approval of the purchase by the NBA Board of Governors. This committee is comprised of team owners and other representatives responsible for approving significant changes and operations throughout the league. The acquisition was completed with the consent of all key stakeholders, and given that the board had previously approved the addition of Alex Rodriguez and Lorre to the 2021 team, there are only two remaining steps. If it is satisfied, there should be no problem.

In their three years as part of an NBA franchise, Alex Rodriguez and Marc Rohr have been heavily involved in decision-making activities. From attending many of the team’s games to speaking about the same in interviews, the duo has already established themselves as the faces of the Timberwolves. Additionally, they had a big push to add Rudy Gobert, who is attracting attention, to the team. After seeing the team’s success in recent months, fans are hoping that everything will be fine by the end of March.