Michael Bloomberg Agrees To Join A-Rod Ownership Group to Buy Timberwolves

If Alex Rodriguez needed cash -- he's now got it in spades -- 'cause the baseball legend struck a deal with Michael Bloomberg, one of the richest people in the world, who has now joined A-Rod's Timberwolves ownership group ... as the men intend to buy an 80% stake in the team.

The Athletic broke the news on Thursday (and TMZ Sports has since confirmed), revealing the 82-year-old billionaire and former NYC mayor has agreed to link up with Rodriguez and his business partner, Marc Lore, in their quest to acquire majority control of the T-Wolves organization.

FYI, Alex and Marc bought a 40% stake in 2021, and ultimately planned to buy nearly the whole team (and the WNBA's Minnesota Lynx, too) ... until 83-year-old majority owner Glen Taylor accused the men of missing a payment and called off the deal.

Rodriguez and Lore denied the accusation ... and were adamant they had more than enough green in the bank.

Wherever the truth lies, money certainly won't be an issue going forward. Bloomberg is the 12th richest person in the world, according to Forbes, with a net worth of $106.2 billion.

By adding the former mayor, there's hope the parties can proceed with the deal, and send Taylor on his way ... which would cost around $300 million to complete.

The strained relationship could slow things down going forward. The sides are currently in arbitration and won't likely be wrapped up until sometime this summer. So, probably safe to say nothing is immediately imminent.

It's not A-Rod's first attempt at buying a professional sports franchise. The 3x AL MVP tried to buy the New York Mets with his then-fiancée Jennifer Lopez back in May of 2020 ... but ultimately struck out, losing the team to the immensely wealthy Steve Cohen. A year later, he started working with Lore to acquire the T-Wolves from Taylor.