NBA News: Former Yankees' Star Alex Rodriguez is the New Owner of the Minnesota Timberwolves
The asking price for an NBA team is not low, and as seen by the new purchase of Minnesota Timberwolves, it's only going to go higher.
Alex Rodriguez and Marc Lore will buy the Timberwolves from Glen Taylor for $1.5 billion, Shams Charania of the Atheltic reported on Thursday.
Taylor originally purchased the Timberwolves in 1994 for around $90 million, according to CNBC.
He will make over $1.4 billion in profit based on that information.
Charania also added a fascinating tidbit about the new ownership.
"Rodriguez and Lore are expected to sign formal paperwork shortly, and sources say A-Rod and Lore are equal, 50-50 partners in the purchase." Charania Tweeted on Thursday.
The Timberwolves currently have a core of D'Angelo Russell, Karl-Anthony Towns, Anthony Edwards and Malik Beasley.
Related stories on NBA basketball
- BJORKGREN'S SEAT IS HOT: The Indiana Pacers' first-year head coach could be in jeopardy of losing his job, ESPN reports. CLICK HERE
- PLAY-IN TOURNAMENT: The NBA is having a play-in tournament for the first time this year to determine the No. 7 and No. 8 seeds. Here's everything you need to know on how it works. CLICK HERE
- RUSS MAKES NBA HISTORY: Russell Westbrook and the Wizards lost to the Hawks in Atlanta on Monday, but Westbrook got his 182nd career triple-double, the new NBA record. CLICK HERE.
- PACERS STUN 76ERS: The Indiana Pacers will finish in the top-10 seeds in the Eastern Conference, and they beat the 76ers at home 103-94 and held them to just 13-points in the third quarter. CLICK HERE.
