Marc Lore, Alex Rodriguez's combined net worth as duo nears deal for NBA's Timberwolves

Three-time MLB MVP Alex Rodriguez and his billionaire friend Marc Lore were in the mix to buy the New York Mets recently but didn’t have the winning bid. The duo, however, has reportedly found a professional sports franchise they can purchase — the Minnesota Timberwolves. On Sunday, Rodriguez and Lore reportedly entered a letter of intent and are deep in negotiations to become minority owners in the Timberwolves, with current owner Glen Taylor serving as their mentor. 

Marc Lore Alex Rodriguez Timberwolves deal: Lore, Rodriguez to become owners at Minnesota Timberwolves?

According to multiple reports, former MLB star Alex Rodriguez and E-commerce mogul Marc Lore appear to be close to owning the Minnesota Timberwolves, finalising a deal with current owner Glen Taylor. Reports from The Athletic claim that Taylor and the Lore-Rodriguez team have reportedly agreed on a $1.5 billion valuation for the franchise, which includes the WNBA's Minnesota Lynx as well.  

The agreement now opens a 30-day window for negotiations to be finalised. If accountants and attorneys for both sides agree, the deal would then need to be approved by the league. It is believed that Lore and Rodriguez would take over in 2023, with Glen Taylor retaining full control of both teams for two years and mentoring the two until then. Taylor, who turns 80 on April 20, 2021, has waffled in the past over whether or not to sell the franchise, but this deal appears to be nearing the finish line.

Alex Rodriguez net worth details 

As per reports from Celebrity Net Worth, Alex Rodriguez's net worth is an estimated $350 million. Rodriguez played in the MLB for the Seattle Mariners and the Texas Rangers but is mostly known for his time with the New York Yankees. He played for the Yankees from 2004 until his retirement in 2017. During his professional career, he earned a reported $475 million in salary, bonuses and endorsements. In 2000, Rodriguez signed a 10-year contract with the Texas Rangers for a whopping $252 million. 

Marc Lore net worth details: Combined net worth of Alex Rodriguez and Marc Lore

According to reports from Wallmine.com, Marc Lore's net worth is a whopping $1 billion. Hence, the combined net worth of Marc Lore and Alex Rodriguez adds up to around $1.35 billion. The 49-year-old was the President and CEO of Walmart U.S. E-Commerce for the past five years since stepping down from his role at the start of 2021. 

Disclaimer: The above information is sourced from various websites/ media reports. The website does not guarantee a 100% accuracy of the figures.

Image Credits - AP