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One of baseball s greatest players and a retail leader are teaming up on a bid for a professional sports team.
What Happened: 14-time MLB All-Star Alex Rodriguez is teaming up with Marc Lore in an attempt to buy the NBA’s Minnesota Timberwolves. Lore was the founder of Quidsi, which was sold to Amazon.com (NASDAQ: AMZN) and the founder of Jet.com, which was sold to
Walmart Inc (NYSE: WMT).
The duo could acquire the Timberwolves for $1.5 billion, according to The Athletic. Rodriguez and Lore signed documents Saturday to enter exclusive talks to negotiate and finalize a deal in the next 30 days with current Timberwolves owner Glenn Taylor.