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A-Rod, Lore agree to buy Minnesota Timberwolves for $1.5 billion

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Alex-Rodriguez Yankees

FILE– Alex Rodriguez #13 of the New York Yankees leaves the game in the ninth inning against the Tampa Bay Rays at Yankee Stadium on August 12, 2016 in New York City. Drew Hallowell/Getty Images/AFP

New York Yankees great Alex Rodriguez and tech entrepreneur Marc Lore have reached an agreement to purchase the Minnesota Timberwolves from owner Glen Taylor for $1.5 billion, the Athletic reported on Thursday.

Rodriguez, better known as A-Rod, and ex-Walmart executive Lore are expected to sign formal paperwork shortly and will be equal, 50-50 partners in the purchase, the online sports news website reported, citing sources.

Rodriguez was part of a group that made an unsuccessful bid to purchase the New York Mets baseball team last year. The Mets were ultimately bought by billionaire hedge fund manager Steve Cohen in a deal that closed in November.

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