Lately, Alex RodriguezThe player, who owns approximately $1.5 billion of shares in NBA team Minnesota Timberwolves, appears to be in danger as some insiders claim he parted ways with the Hollywood star. Jennifer Lopez It could be one of the reasons. Alex teamed up with e-commerce tycoon Marc Lore to buy the NBA franchise. They paid a down payment of $250 million in cash in July 2021. According to sources, the cash investment left the team with a debt of about 20% of the stock.
When Alex had to pay his share, he couldn’t find the money, causing his partner Marc Lore to find out the entire remaining balance. Therefore, Marc currently owns 13% and Alex has almost 7%. It is said that they both decided to split the shares 50-50, but when it came time to pay the money, Alex could not find the necessary 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 sources confirmed that Alex is still struggling to raise his share to the cash he needs for the down payment.
Now, with just a few months to pay the amount, Marc Lore is rumored to eventually buy more than half of the stock. Lore, on the other hand, said that Alex is involved in the entire decision-making process and is one of the best partners and a close best friend. The duo had previously paired up to buy the New York Mets in 2020, during which time Alex was dating Hollywood star Jennifer Lopez.
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Relationship of Alex Rodriguez and Jennifer Lopez
The former Baseball jersey and actor started dating in February 2017 and dated for four long years before they split up. Alex proposed to JLo in 2019, but the engagement was called off after they broke up. While the two were dating, Alex would often hold meetings at the couple’s Bel-Air home, where Jennifer was seen with him. The two broke up as Jennifer was rumored to have trust issues with Alex. He feels that Jennifer, who is no longer with Alex, is not attracting investors.
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