Minneapolis — Former Yankees superstar Alex Rodriguez’s expanding sports-business empire has landed in the middle of a potentially uncomfortable debate far removed from the Bronx.
The Minnesota Timberwolves and Lynx are pushing forward with plans for a new arena, and the discussion has now shifted toward whether public money could become part of the financing package.
That possibility is already producing divided reactions in Minneapolis.
Mayor Jacob Frey said this week that he expects “a substantial public-private partnership in some form” as discussions over a replacement for Target Center accelerate. CBS Minnesota reported Wednesday that local residents expressed sharply different views over whether taxpayers should help finance the project.
For Rodriguez, who remains part of the franchises’ ownership partnership, the debate adds a new layer to an already changing ownership picture.
A-Rod remains part of changing Timberwolves ownership
The arena discussion comes only weeks after another major development involving the Timberwolves and Lynx.
Marc Lore agreed in August to sell most of his controlling stake to California billionaire Marc Stad in a transaction reportedly valued at $4.5 billion.
Rodriguez is not disappearing from the ownership group.
In a joint statement after the agreement emerged, Lore, Stad and Rodriguez described the transaction as an evolution of their partnership and said they would continue working with franchise leadership.
Timberwolves CEO Matt Caldwell said this week that the arena effort has not been derailed by the pending ownership change.
Caldwell told the Minnesota Star Tribune that the franchises remain “100% committed” to building a new arena in Minnesota. He also indicated that ownership expects to work with Minneapolis, Hennepin County and state officials as the project takes shape.
That represents an important development.
Previous discussions had suggested ownership could privately finance the project. The latest comments have opened the door to some form of government participation.
Public money becomes central issue
No formal financing proposal has been announced, and there is no final arena site.
That leaves a significant gap between discussing a public-private partnership and determining how much taxpayer support, if any, would actually be involved.
Still, the reaction began almost immediately.
Some Minneapolis residents told CBS Minnesota that a new arena could generate activity and investment downtown. Others questioned why taxpayers should help wealthy sports owners finance another facility.
The history of Target Center adds to that tension.
The building is nearly 36 years old and is the second-oldest active NBA arena. Yet it also underwent a $145 million renovation completed in 2017.
One resident pointed directly to that recent investment when questioning another publicly supported project.
Frey, meanwhile, has framed a potential arena as something larger than a basketball venue. He has argued that a downtown development could include housing, businesses and improved public spaces while helping reshape an area still recovering from changes in post-pandemic traffic patterns.
The mayor has previously opposed direct stadium subsidies, making the eventual structure of any deal particularly significant.
Target Center deadline gives ownership time
There is no immediate deadline forcing Rodriguez and the ownership group to move.
The Timberwolves are committed to Target Center through the 2034-35 season. Leaving early could require a reported $50 million payment.
Caldwell acknowledged that a new arena remains years away.
That means the difficult part of the process — determining a location, financing structure and level of government involvement — is only beginning.
For Rodriguez, it marks another stage in a dramatic transition since his Yankees career ended in 2016.
The three-time American League MVP has moved aggressively into broadcasting, investing and professional sports ownership. His involvement with the Timberwolves and Lynx became one of the most visible pieces of that post-baseball portfolio.
Now that investment is moving into the politically sensitive world of stadium financing.
Whether public money ultimately becomes part of the project remains unresolved.
What has changed is the conversation.
A new arena once discussed largely as an ownership-funded undertaking is now being openly connected to a possible public-private partnership — placing Rodriguez and his fellow investors at the center of a debate likely to follow the project for years.
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