A-Rod May Foot Larger Portion of Bill in Next Wolves Payment
Earlier in the week, it was reported that Alex Rodriguez may be having cash issues, among other things. Not money issues. Those are problems that you and I deal with. The little people. Rich people, like A-Rod, have liquidity problems.
Too much of his money is wrapped up in other projects and, while major league baseball pays well, it doesn’t pay billionaire well. A-Rod doesn’t have Marc Lore money, which is nothing to be ashamed about. But rich people problems are still problems and the NY Post piece that dropped on Tuesday shed some serious doubt on Alex Rodriguez’ ability to pay for his share of the Minnesota Timberwolves.
Mark Lore and A-Rod made their first of three scheduled payments to Glen Taylor back in July 2021. The total landed them 20% of the Wolves organization. But Lore footed the bill for 13% of that 20%, Rodriguez just 7%.
New report pushes back
I don’t want to call anything “financial struggles” when it comes to Rodriguez. Does he have Steve Ballmer money? No. But discussions with key members of the organization this week stressed that there is a very real scenario where Rodriguez pays more of the money than Lore on the second installment to even the balance. Will that happen? We shall see, but it is being discussed. There are a multitude of ways they can make the final two payments. – Jon Krawczynski (The Athletic)
The New York Post article wasn’t the first time we’ve seen or heard about doubts involving Alex Rodriguez’s ability to pay for his fair share of the Minnesota Timberwolves. Jon’s information came in form of a mailbag and reeks a bit of someone being fed Wolves-friendly information.
Time will tell…
Jonny Athletic throws water on the entire idea that A-Rod is struggling to liquidate enough cash to immediately afford his portion. We’ll see what happens on or before December 31, when the next installment is due.
To put it bluntly, ever since Lore and Rodriguez came onto the scene, there has been skepticism in some league circles that they would be able to complete the deal. But that skepticism baffles Lore and Rodriguez, who have gone through the approval process from the league to join the ownership group and have, to this point, covered every obligation required of them. They have two payments to make, one by Dec. 31 of this year and a final payment by Dec. 31, 2023. They remain steadfast that they will be able to close over the next 16 months. – Jon Krawczynski (The Athletic)
Eric Strack | Minnesota Sports Fan