Alex Rodriguez finally has cash ready for Timberwolves bid, but is it too late?

Shams Charania reported that, according to sources, aspiring Minnesota Timberwolves majority owners Alex Rodriguez and Marc Lore "have $940M in a bank account ready to wire immediately to majority owner Glen Taylor and the NBA for outright control."

Rodriguez and Lore purchased 40% of the Timberwolves and the WNBA's Minnesota Lynx in separate payments in 2022 and 2023. But when they missed the final payment for an additional 40% that would have completed the sale on March 27, owner Glen Taylor said the teams were no longer for sale.

Now the two sides are headed to an arbitration hearing Nov. 4. Rodriguez and Lore claim they should have been entitled to a automatic 90-day extension when they submitted their paperwork to the NBA. Taylor contends that they needed to complete their final payment.

Rodriguez and Lore are hoping that amassing a ton of cash could sway the decision in their favor. According to Charania, A-Rod and Lore "have $940M sitting in a JP Morgan account to be wired to Glen Taylor to finish this purchase of the team. Not only to get just their 60%-70% share, but to buy the team 100% in full from Glen Taylor."

But that's different from the prospective buyers having the money back in March, when it was due. Rodriguez and Lore had already pushed back the original deadline of Dec. 31, not the first time they'd had to delay payments. 

One week before the deadline, the group lost funding from the Carlyle Group. Rodriguez reportedly couldn't raise cash as readily after his breakup with Jennifer Lopez.

Since then, Rodriguez and Lore have brought billionaire Michael Bloomberg into their ownership group, so they seem well-funded. Ultimately, that should help their chances to get NBA approval for the sale. 

But it seems like the issue at hand isn't whether Rodriguez and Lore have the money now; it's that they didn't have it six months ago.

For Timberwolves fans, they might prefer the status quo, after the team enjoyed its best season in two decades. Especially since Rodriguez and Lore reportedly planned to slash payroll after taking over. 

If ownership had to hustle for months to get the money to buy the team, can anyone expect them to maintain the payroll of a title contender?