“The reason why I am here is that I saw Magic [Johnson] wearing a suit and tie. I said, ‘That was a guy I can relate to. He looks like me. He came from the bottom like me.’” That was how Alex Rodriguez found his way to NBA ownership after retirement. The Yankees legend eventually partnered with Marc Lore to buy the Minnesota Timberwolves and their WNBA counterpart, the Lynx. But as of August 21, things look a little different.

“One of the great joys I’ve had in my career is spending the last few years helping build the Timberwolves and Lynx with my friend and partner Marc Lore. I’m very excited to announce that this incredible journey reaches a new level today,” Rodriguez wrote on X. “Marc and Elisa Stad, who have been our partners and friends since we bought the teams, will be increasing their investment and joining me as Co-Chairman.

“I will also be increasing my investment and spending even more time with the teams as Co-Chairman, Governor of the Lynx, and alternate Governor of the Timberwolves, pending league approval. While Marc Lore will be reducing his role and ownership to focus on his business, he remains an investor and a key part of our partnership. I could not be more energized about this evolution and what we’re all going to do together for the Twin Cities.”

Reportedly, Lore agreed to sell the majority of his stake to fellow billionaire Marc Stad in a deal that values the franchise at $4.5 billion. According to sources familiar with the matter, Lore will retain a stake in the ownership group but will no longer serve as its governor. Instead, he is shifting his focus toward taking Wonder, his food delivery and takeout company, public. The sources spoke anonymously because the deal has not yet been finalized.

Now, while Lore focuses on that, the former Yankees slugger is buying additional shares and will remain the second-largest shareholder in the ownership group behind Stad.

Additionally, Rodriguez is expected to take on a more visible role within the ownership group. His background as a former baseball star and television analyst has made him accustomed to being in the public eye. He is also expected to spend more time in Minnesota, where he maintains a home.

As per the reported shake-up, the Dragoneer Investment Group founder is buying out the bulk of Lore’s shares to become the largest stakeholder. Moreover, his wife, Elisa Stad, will serve as the designated governor for the Timberwolves. On the other hand, Rodriguez will now serve as the Co-Chairman, governor of the Lynx, and alternate governor of the Timberwolves, pending final league approval.

Announcing the transition in a joint statement, Lore, Stad and Rodriguez said:

“We have been working together for years with a shared goal of building the Timberwolves and Lynx into the best organization in basketball on and off the floor. Our priority is and always will be championships,” they said. “Our new agreement, pending league approval, is an evolution of the partnership we have built together and strengthening of our commitment to our team and our culture.

“We will continue to work closely with Matt Caldwell, Tim Connelly, Chris Finch and Cheryl Reeve and want to thank the fans and entire Minnesota community for your continued support. While we’re proud of the great work we’ve done, there’s so much more to do and we’re just getting started.”

The 51-year-old didn’t reveal the financial details of his investment, but it is almost certain that he will be more associated with both franchises. Rodriguez routinely sits next to the team bench or at midcourt at Target Center in Minneapolis. He has also been captured several times greeting superstars like Anthony Edwards and embracing center Rudy Gobert on the floor before tipoff or after major wins.

Interestingly, this happens to be the second case of an NBA ownership change in less than 10 days. Mark Walter agreed to sell the Lakers to former Disney CEO Bob Iger and Thrive Capital founder Joshua Kushner, just 14 months after purchasing the team. According to reports, the deal valued the Lakers at $12.5 billion — $2.5 billion more than when Walter agreed to purchase the team.

Fans can expect more of these scenes from here on, but their biggest expectations will be from the franchises’ the on-court performance.

Alex Rodriguez has more to do than just finance

Since Alex Rodriguez ventured into these two franchises in 2021, neither franchise has captured a championship trophy. Lore and Rodriguez initially took over the Wolves and Lynx at a $1.5 billion valuation. However, owing to a dispute and legal issues with the former owner, Glen Taylor, they could only take control in 2025. So now that Rodriguez is increasing his financial commitment with the Timberwolves and the Lynx, a few shakeups in the roster could happen.

The Timberwolves have not won a championship since their inception in 1989, while the Lynx last won one in 2017. Hence, for Rodriguez, expectations would be high to initiate a turnaround for both teams.

Just like in Game 3 of the 2009 ALDS against the Twins, when A-Rod blasted a legendary two-run, game-tying home run off Carl Pavano to spark a comeback, he is needed to pull off something similar, this time donning his corporate attire for the Timberwolves and Lynx.