The Timberwolves are a rising franchise in the NBA, with a very talented workforce, high sporting ambitions, and new owners ready to pull out the checkbook for the good of the team… Or so the fans thought. They may have been scammed by investors!
The Timberwolves could well become a team that matters this season, for the first time since Kevin Garnett left for Boston in 2007. In a Western Conference that should still be very open, the Minnesota franchise will be able to count on an exceptional trio with forward Karl-Anthony Towns, defender Rudy Gobert, and Anthony Edwards, seen as a very great future player by specialists.
If they lacked experience in the first round of the playoffs to take out the talented Grizzlies a few months ago, Chris Finch’s men can now dream bigger. If the transplant takes with the pivot of the France team, the Wolves will have all the ingredients in the workforce to create the surprise and why not claim the title. And in offices too things are moving.
New Wolves owner broke?!
Indeed, the franchise is in the process of selling, and among the future new owners is Alex Rodriguez, baseball legend and ex-companion of Jennifer Lopez, enough to bring a little glamor to this franchise not really brilliant historically… Du less on paper. Because according to the latest indiscretions of Josh Kosman of the New York Postthe former Yankees would be broke!
At the time of the first payment to afford the Timberwolves, A-Rod would not have been able to raise the money necessary to pay his share. It was therefore his partner Marc Lore who covered the difference. After this first deadline, Lore would own 13%, and Alex Rodriguez only 7%. The two have until the end of the year to pay the following 20% of the shares of the franchise.
According to three sources very close to the matter, the former Yankees is currently moving heaven and earth to find the necessary funds for this operation, in addition to the cash he will have to spend as insurance. In the end, he will undoubtedly find himself in a clear No. 2 role in the franchise, since Lore should have well over 50% of the shares.
Normally, Alex Rodriguez should have become a 50% shareholder in the Timberwolves, and therefore have a crucial role to play in decision-making. But because he does not have the necessary money, in particular because of his divorce with Jennifer Lopez, he could become a more than secondary figure during the takeover of the franchise. Minnesota was supposed to become a sexy, high-profile franchise with him, it obviously won’t.
Not only will the franchise not be as prestigious and followed in the absence of Alex Rodriguez, but certain questions arise in terms of financial strength. Will the owners be able to pay the luxury tax, for example? Nothing is less certain.