Alex Rodriguez’s $1.5 billion deal to buy the NBA’s Minnesota Timberwolves is reportedly in jeopardy because the baseball legend is struggling to fund his second payment without his ex-fiancée Jennifer Lopez by his side.
‘His ability to raise capital went from strong to meaningfully weaker,’ one source, who is reportedly close to Rodriguez, told the New York Post. ‘J.Lo validated him.’
Rodriguez, 47, and Lopez, 53, began dating in 2017, announced their engagement in 2019, and split in 2021. Shortly after his breakup, Rodriguez and co-investor Marc Lore submitted a $250 million down payment to long-time Timberwolves owner Glen Taylor, giving the pair the option to purchase additional 20-percent stakes in 2022 and 2023 to become co-majority owners.
Now, the Post reports, Rodriguez is struggling to come up with the second payment, which could cost him a supervising role with the team or a shot at the owner’s box altogether.
‘Alex and Marc were supposed to be 50/50,’ an NBA source told the Post. ‘Alex couldn’t come up with his half.’
A spokesman for Rodriguez rejected the article, telling DailyMail.com that the Post’s article is untrue. Team spokespeople did not immediately respond to DailyMail.com’s request for comment.
Rodriguez has around $500 million in assets, little of which is believed to be liquid, sources told the Post.
J.Lo only few days ago headed for the Altar with hubby Ben Affleck in a super wedding extravaganza that attracted creme dela creme of the society.
