Who is the new investor who backed Alex Rodriguez to buy the Minnesota Timberwolves?

Buying a sports team is no easy task, and Alex Rodriguez knows a lot about that, who, after constant obstacles, will complete his acquisition of the Minnesota Timberwolves, thanks to the help of Blue Owl Capital.

As reported by ESPN, this group of investors joined forces with former MLB player and partner Marc Lore, offering to give them the $300 million they were missing for the buyout. It must be remembered that the owners made a different offer to the investor, but it ended up being invalid.

“They had an equity group backing them that would have provided the $300 million they needed, but that group either pulled out or was rejected by the NBA.”Glenn Taylor, who is still the owner of the NBA franchise, revealed this to the media. “Now they have to find someone else to provide the money. This is what I know.”he added.

According to information provided by The Athletic, the maximum waiting time to place funds is next March 27. Moreover, this was made clear “Both partners have signed documents with the NBA to prove they have that money and only final approval from the Board of Governors is needed for it to be official.”which he believes will happen very soon.

“It was great NBA “He welcomed me with open arms.”The former partner of Jennifer Lopez had said in 2022, about his entry into the best basketball league in the world. He also explained his desire to acquire the Timberwolves “It's about the fans in Minnesota. I think they deserve to win. They deserve consistency, they deserve continuity.”

Rodriguez and his partner bought the team in installments and the procedures have been developing since 2021 when they signed the first papers. A year later they acquired the first 20%, in 2023 the second, and so on. The total value of the sale was set at $1.5 billion.