Former Major League Baseball MVP Alex Rodriguez and his business partner are in preliminary discussions to purchase the NBA's Minnesota Timberwolves, US media reported Saturday night.
Rodriguez, who retired from baseball after the 2016 season, has joined forces with US business tycoon Marc Lore to sign a letter of intent to negotiate with Timberwolves owner Glen Taylor to buy the franchise, ESPN reported.
The letter of intent stipulates that Rodriquez and Lore have 30 days to finalize a deal to purchase the club which Taylor paid nearly $90 million for in 1994. The deal would also reportedly include the WNBA's Minnesota Lynx.
If a contract is signed, the 79-year-old Taylor would bring the two investors on as limited partners for two years before turning over full control.
The Timberwolves are reportedly worth about $1.4 billion, according to Forbes Magazine.
Rodriguez, who previously tried to buy the New York Mets, was suspended for the entire 2014 MLB season for violating the league's performance-enhancing drug policy. He admitted to investigators in 2014 that he took banned drugs from the Biogenesis clinic, after publicly denying it.
Rodriguez initially received an unprecedented 211-game ban but it was eventually cut to 162 games.