Alex Rodriguez’s Timberwolves stake in jeopardy after breakup with Jennifer Lopez
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Alex Rodriguez and Jennifer Lopez
Recently, Alex Rodriguez, who owns a stake of around $1.5 billion in the NBA team Minnesota Timberwolves, seems to be in jeopardy as some insiders have claimed that his parting ways with Hollywood star Jennifer Lopez can be one of the reasons. Alex teamed up with e-commerce tycoon Marc Lore to buy the NBA franchise. They made a down payment of $250 million in cash in July 2021. According to the sources, the cash investment left a debt on the team, around 20% of the stake.
When Alex had to pay his share, he failed to come up with the money, which left his partner Marc Lore to come up with all the remaining balance. Therefore, Marc now has a 13% share, and Alex hardly has a 7% share. It was said that both had decided to split the shares 50-50, but when it was time to pay the money, Alex didn’t get the required funds to pay. The deal now requires Alex and Lore to pay the remainder of the 20% payment by the end of this year. But the sources have confirmed that Alex is still muddling to raise his share to the cash he needs for the down payment.
Now with only a few months remaining to pay the amount, it is rumored that Marc Lore will eventually buy more than half of the stake. On the other hand, Lore said that he involves Alex with all the decision-making and is one of the best partners and a close best friend. The duo had paired up earlier to buy New York Mets in 2020, during which time, Alex was dating the Hollywood star Jennifer Lopez.
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The relationship between Alex Rodriguez and Jennifer Lopez
The former Baseball shortstop and the actress started dating around February 2017 and dated for four long years before calling it quits. Alex had proposed to JLo in 2019, but the engagement was canceled after they broke up. When the duo was dating, Alex frequently kept meetings at the couple’s Bel-Air house, where Jennifer was always seen with him. They both broke up as it was rumored that Jennifer has trust issues with Alex. It feels that Jennifer who is no longer with Alex, fails to attract investors.
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