According to the New York Post, Alex Rodriguez is struggling to generate cash for the purchase of the Minnesota Timberwolves.
The report notes that Rodriguez and Marc Lore were supposed to be equal partners in the Timberwolves when they made a $250 million down payment in July 2021, but Rodriguez failed to come up with his full share.
“Alex and Marc were supposed to be 50/50,” an NBA source stated. “Alex couldn’t come up with his half.”
The terms of the deal to acquire the team require Rodriguez and Lore to make the next 20 percent payment by the end of the year.
Insiders believe that the 47-year-old’s past relationship with Jennifer Lopez played a part in his business interest, but the couple split apart last year.
“His ability to raise capital went from strong to meaningfully weaker,” believes a source who knows Rodriguez well. “J.Lo validated him.”
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