Timberwolves Ownership Transition
In a significant development for the Minnesota Timberwolves, former MLB superstar Alex Rodriguez and entrepreneur Marc Lore have officially taken over as co-owners of the franchise following a lengthy four-year battle for control. Their ambitions for the team were articulated during a recent press event at the NBA Summer League in Las Vegas.
Lessons from George Steinbrenner
Rodriguez reflected on the impactful lessons he learned from George Steinbrenner, the late owner of the New York Yankees. He conveyed one particular lesson that resonated with him: Steinbrenner believed that
“the only thing more important than winning is breathing.”
This mantra hints at Rodriguez’s ambitious vision for the Timberwolves, as he expressed a relentless commitment to achieving success.
“I’m kind of sick like that,”
he admitted, noting that the drive to win will be a key focus in his ownership style.
Innovations and Future Plans
Under their leadership, Rodriguez and Lore are poised to introduce several innovations, which includes a new ticketing system called Jump. This cutting-edge platform allows fans to bid on tickets for desirable seats that become available if other attendees leave early. The duo is also considering plans for a new arena and aims to rebuild relationships with franchise legends, particularly Kevin Garnett, who has had a strained relationship with the team in recent years.
“As a startup founder, innovation is essential to me,”
Lore remarked, highlighting their strategy to approach ownership differently. He emphasized the importance of not conforming to traditional practices but instead using their fresh perspective to improve the team’s operations.
Acquisition Journey
The journey to ownership began when Rodriguez and Lore approached Glen Taylor, the former owner of the Timberwolves, over four years ago. They quickly agreed on a staggering $1.5 billion purchase price, indicative of the soaring valuations of NBA teams. The current landscape in professional basketball is marked by record-breaking sales, including the sale of the Boston Celtics for $6.1 billion and the Los Angeles Lakers valued at $10 billion. Rodriguez pointed out how fortunate they were to acquire the Timberwolves at a comparatively lower valuation.
Personal Reflections and Future Goals
Rodriguez, who faced considerable hurdles during his baseball career due to his past with performance-enhancing drugs, acknowledged his mistakes yet expressed gratitude for having changed his life path.
“I’ve made some incredible mistakes and I hurt myself more than anything,”
he said.
“But I’m thankful I was able to course-correct and make radical changes to partner with Marc in this endeavor.”
Looking ahead, both owners are determined to create a competitive team. The Timberwolves possess notable talent, with rising star Anthony Edwards leading the charge. Rodriguez believes that emulating Steinbrenner’s commitment to providing opportunities, fostering player passion, and engaging the fan base will be crucial for the Timberwolves’ success.
“We want to make our fan base proud,”
he concluded, emphasizing their intentions to turn around the franchise’s fortunes and establish a winning culture.
