Former New York City Mayor and billionaire media mogul Michael Bloomberg has joined the investor group headed by Marc Lore and Alex Rodriguez that is seeking to acquire a majority stake in the NBA’s Minnesota Timberwolves.
The addition of Bloomberg, who built his fortune after co-founding his eponymous financial data company that has served Wall Street professionals for decades, is a major coup for Lore and Rodriguez, who are locked in a battle with current T-Wolves majority owner Glen Taylor over control over the team.
A spokesperson for Lore confirmed Bloomberg’s participation in the investment group.
A spokesperson for Bloomberg declined to comment.
Bloomberg’s involvement in the Lore-A-Rod bid to own the Wolves dates back to late last year, The Post has learned from sources familiar with the matter.
Public knowledge of Bloomberg’s investment puts pressure on Taylor, who is trying to stop the sale, and has signaled that A-Rod and Lore do not have enough money to build the team.
If Lore and A-Rod succeed in wresting control of the T-Wolves from Taylor, Bloomberg will wind up with approximately a 10% ownership stake in the team, sources told The Post.
An arbitration court is expected to decide in August or September whether A-Rod and Lore can force a sale, sources said.
The Post has sought comment from the Timberwolves and Rodriguez.
News of Bloomberg’s involvement was first reported by The Athletic.
Bloomberg’s wealth, which is valued by Forbes at $106.2 billion as of Thursday, makes him the 13th richest person in the world.
Bloomberg’s addition allows Lore and Rodriguez to go forward with a final $300 million investment to buy out Taylor in the short term rather than waiting until the end of the basketball season next year, according to the report.
Bloomberg is reportedly set to kick in just a portion of the $300 million as most of the money will come from investors that Lore and A-Rod have already lined up, among them former Google CEO Eric Schmidt.
The investment group headed by the Lore-Rodriguez tandem currently owns around 40% of the T-Wolves as well as the WNBA team, the Lynx.
In April 2021, Lore, the e-commerce mogul behind successful startups such as Diapers.com and Jet.com, teamed up with former Yankees great Rodriguez and reached an agreement with Taylor to purchase the Wolves for $1.5 billion.
The agreement was structured so that Lore and A-Rod would gradually acquire stakes in the team in a multi-step process over the span of a few years.
By last year, the two sides proceeded to the point where A-Rod and Lore amassed a 36% stake in the club.
The deal’s final stage called for the two to acquire an additional 40% stake by this past March — giving them majority control of the NBA franchise.
But Taylor, the 83-year-old businessman and former Minnesota state lawmaker, balked at selling the 40% stake — claiming that Lore and A-Rod did not line up adequate financing to complete the transaction.
Lore and A-Rod denied the claim, saying that Taylor got “seller’s remorse” after his T-Wolves surged to championship contention and likely saw its valuation soar in comparison to when he agreed to sell the club three years ago.
The Wolves’ valuation has surged to north of $3 billion, according to recent reports.
The team led by explosive superstar Anthony Edwards shocked basketball observers this year by reaching the Western Conference finals in the NBA — only to lose to the Dallas Mavericks.
In late March, The Post reported that Lore, who told the NBA he was worth around $4 billion, did not want to invest much of the $520 million that was needed for him and Rodriguez to increase their stake in the team to 80%.
Lore was willing to invest a relatively little amount of money, but wanted A-Rod, who had put in a lot less than Lore, to catch up in this new round of financing to a level much closer to what he had invested, sources with direct knowledge of the situation said.
Before Lore and A-Rod were set to plunk down $600 million for the additional 40% stake, they made a last-minute change in their financing of the payment — enlisting private equity firm Dyal Capital after the withdrawal of the Carlyle Group.
Lore and A-Rod insist that the financing is ready and that they have enough money to acquire the remaining 40% stake, which would buy out Taylor’s limited partners and leave him with 20% of the club.
The original agreement between the two sides allows Lore and A-Rod to acquire Taylor’s 20% stake anytime before March of next year.
Lore and A-Rod are reportedly making plans to map out a strategy for running the Wolves if, as they expect, the arbitrator will rule in their favor.
Their investor group plans to spend considerably to keep the team competitive, according to The Athletic, chiefly by paying the NBA’s luxury tax — a provision in the collective bargaining agreement that requires teams to fork over extra money if their payroll exceeds a threshold.
The Wolves’ collection of highly paid stars including Edwards, Karl-Anthony Towns, Mike Conley and Rudy Gobert has inflated the payroll above the league-mandated salary cap — necessitating a luxury tax payment.
This weekend, tens of thousands of fans are expected to travel to Cooperstown, New York, as they do annually, to pay homage to new inductees and returning members of the National Baseball Hall of Fame and Museum, visit the Hall and see an array of artifacts from the greats of the game — including Major League Baseball’s all-time hits leader, Pete Rose.
But Rose’s presence in the Hall’s exhibits didn’t require the action of a commissioner. The legendary “Charlie Hustle” has been there for decades, a constant in the museum’s presentation of the history of the game, with numerous pieces that he donated to the Hall. Rose, of course, is not a Hall of Famer, but fans have long been able to see him and his accomplishments represented in at least a dozen items on display, including bats and a ball, a cap, cleats, a jersey and more connected with his 4,256 hits, record numbers of games played and at-bats and myriad awards. The 17-time All-Star at a record five positions won three World Series titles and proudly referred to himself as the winningest player ever.
MLB banished Rose in 1989 after an investigation it commissioned found Rose, then the manager of the Cincinnati Reds, had bet on the sport and his own team’s games. Two years later, the Hall of Fame’s board decided anyone on MLB’s permanently ineligible list would also be ineligible for election to the Hall. That became known as “the Pete Rose rule.”
For nearly 15 years after baseball banned him, Rose repeatedly denied that he had bet on the sport. Before, and long after, his 2004 admission to having gambled on baseball games — including Reds games — during part of his managerial tenure with Cincinnati, Rose was a fixture in Cooperstown for induction weekends, signing and selling his autographs at a memorabilia store.
Just a block away at the Hall were Sparky Anderson, Johnny Bench, Joe Morgan and Tony Perez of the 1975 and ’76 “Big Red Machine” championship teams with Rose, and Steve Carlton and Mike Schmidt of the 1980 Philadelphia Phillies with whom Rose won a championship, as well as several other teammates from his 24 seasons.
The Hall’s “Whole New Ballgame” exhibit, devoted to the era from 1970 to the present, features a Rose jersey from the 1973 season, when he won the National League Most Valuable Player Award; the ball and a ticket from the 1981 game when he tied Stan Musial’s National League hits record; and a 1978 can of a chocolate-flavored beverage named “Pete,” bearing a Rose action photo.
The section of the Hall that chronicles many of the game’s most hallowed records is titled “One for the Books.” It showcases Rose’s shoes and a scoresheet from his crowning achievement, Sept. 11, 1985, when he broke Ty Cobb’s career hits record. Also displayed is a pair of Rose bats from 1978, when he reached the 3,000-hit milestone and later tied the 1897 National League-record 44-game hitting streak by Wee Willie Keeler, and Rose’s Montreal Expos cap from 1984 when he broke Carl Yastrzemski’s record for games played.
In “Shoebox Treasures,” which examines the baseball cards phenomenon, visitors can see the Rose Topps card from 1975 and two Topps cards — one authentic and one counterfeit — from ’63, when he was named National League Rookie of the Year.
There is also an interactive exhibit on the subject of gambling that includes the Rose saga.
And according to the Hall, its archives contain dozens of holdings pertaining to Rose, from recorded interviews — including with Howard Stern — to correspondence and collectibles, as well as the investigative file from MLB’s 1989 probe of Rose’s gambling led by special counsel John Dowd.
Rose visited the Hall when he was 26 and a fifth-year star for Cincinnati. It was July 24, 1967, and the Reds toured the museum before losing to the Baltimore Orioles 3-0 in the then-annual Hall of Fame exhibition game, in which Rose went 0-for-3.
“This is really great,” Rose said as he looked around the Hall, per the Cincinnati Enquirer. “This is what baseball is all about.”
Rose marveled at the multitude of mementos from Babe Ruth, a member of Cooperstown’s inaugural 1936 class, and at the vast space specifically for the “Bambino” and his larger-than-life exploits on the diamond and beyond.
Dayton (Ohio) Daily News columnist Si Burick, who eventually would be selected to the Hall’s writers wing, recounted a moment from the visit in his column the next day:
When a fellow suggested to an awestruck Rose that he, too, might some day grace the Hall of Fame, if he continued at his present pace, the irrepressible Cincinnatian had a typical answer. Peter pointed to a cubicle filled with Ruth gadgets, and suggested, “There’s my chance to get in — with my bowling ball.”
Ruth’s bowling ball was on display and Rose was a winner four months earlier during spring training at a “Base-Bowl” event in a Tampa bowling alley that paired MLB and Professional Bowlers Association stars. Rose and Dick Weber edged Lou Brock of the St. Louis Cardinals and Wayne Zahn. Of the four, only Rose isn’t enshrined in either the baseball or PBA Hall of Fame.
“I got all the records, so you can throw me into the sea, but the records are still going to come to the top,” Rose said in a 2019 interview for ESPN’s “Backstory” program. “You can walk into the Hall of Fame, you see my name in things everywhere, which is fine. It’s good for me. It’s good for the Hall of Fame. The greatest thing for baseball is the history of baseball.”
With Rose now eligible for election, his Hall candidacy is to be considered by the Historical Overview Committee, which develops a ballot of eight names for the Classic Era Committee that is next scheduled to meet in December 2027. That era committee handles candidates whose greatest impact was prior to 1980, including Negro Leagues and pre-Negro Leagues stars. Its 16 members, comprising Hall of Famers, executives and veteran media members, are charged with weighing the eight candidates’ résumés, integrity, sportsmanship and character — 12 votes are needed for election.
The long-running debates over Rose surely will continue well past 2027. Regardless of whether he’s added to the Plaques Gallery signifying membership in the Hall — there will be 351 plaques as of Sunday, including the day’s five new inductees — there’s no disputing that Rose will continue to have places in the building.
ESPN senior writer Don Van Natta Jr. contributed to this report.
“For as long as I can remember, all I ever wanted to do was play baseball,” Ahmed wrote on social media. “I got to live out my childhood dream and play for a very long time! After 15 professional seasons and over a decade in the big leagues I am officially hanging up my spikes and retiring from playing.”
“To all of the organizations I got to play for… Atlanta, thank you for drafting me! Arizona… calling me up to the big leagues, and believing in me for 10 seasons! SF, LA, SD and TEX… thank you for giving me chances to continue doing what I loved!”
A Gold Glove winner in 2018 and 2019 while playing at shortstop, Ahmed batted .233 with 72 homers and 339 RBIs in 964 career games.
“I will always love the game of baseball,” he added. “I am excited for my next chapter and the [opportunity] to give the best of me to this game that we all love!”
CLEVELAND — Baltimore Orioles closer Felix Bautista, who is tied for sixth in the American League with 19 saves, was placed on the 15-day injured list Thursday with right shoulder discomfort.
Interim manager Tony Mansolino said the right-hander felt uncomfortable while stretching in the bullpen Wednesday during a 3-2 loss to the Cleveland Guardians. Bautista will undergo an MRI when the Orioles return home Friday.
“The (dugout) phone rang in the seventh inning last night and I thought, ‘That is not good,'” Mansolino said. “Then I heard it get slammed down and knew it wasn’t good.
“Félix had started his process of getting loose and that’s when it flared up.”
Bautista did not pitch in the first three games of the series in Cleveland, last seeing action on Sunday at Tampa Bay when he earned his 19th save in 20 opportunities. He missed the entire 2024 season while recovering from Tommy John surgery.
The 30-year-old Dominican has a 1-1 record and 2.60 ERA in 35 appearances, limiting opponents to a .134 batting average over 34 2/3 innings. Bautista has struck out 50 and walked 23.
“We just have to hope it’s not too serious,” Mansolino said.
The Orioles will use a closer-by-committee in the short term with righty setup men Seranthony Dominguez and Yennier Cano at the front of the line.
“We’re going to have to bump up their roles,” Mansolino said. “We’ll figure it out.”
Bautista will not enter free agency until 2028, but is eligible for arbitration following this season. The 6-foot-8, 285-pounder is in the final year of a two-year, $2 million contract.
With the Orioles out of wild-card contention, they are expected to be active sellers before the July 31 trade deadline.
