Former MLB star Alex Rodriguez and tech entrepreneur Marc Lore reached an agreement to purchase the Minnesota Timberwolves from current owner Glen Taylor for $1.5 billion. In addition, Rodriguez and Lore will also buy the WNBA's Minnesota Lynx.
During Friday's installment of "Nothing Personal with David Samson," David Samson weighed in on Rodriguez becoming the new owner of the Timberwolves and what it means.
"A-Rod will not be at the next owners meetings at the NBA. They bought the Timberwolves sort of," Samson said. "There is a path to control for A-Rod and Marc Lore. What they did was they became limited partners for the Timberwolves. That's all. That is a very popular way for people to sell teams these days. It's called the path to control. What that means is that the current owner wants to lock in a price. You want to give somebody the knowledge that over time they can replace you. What A-Rod did is was give a deposit and became a limited partner."
Rodriguez and Lore had signed a letter of intent back on April 30 that gave the duo the exclusive negotiating rights for the next 30 days. That time frame passed without a deal being struck, but the two sides were able to come to a agreement on Thursday. Now the league needs to be approved by the NBA's Board of Governors.
Samson is simply pointing out that Rodriguez did purchase the Timberwolves, but he may not become an actual owner for a few more years.
