Alex Rodriguez in line to become part-owner of Minnesota Timberwolves

There is a new ownership group in the NBA, and it features one of MLB's greatest players.

The Minnesota Timberwolves are being bought by a group that is spearheaded by billionaire Marc Lore and Alex Rodriguez.

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Lore is the president and CEO of Wal-Mart, while Rodriguez brings along a baseball resume as a 14-time All-Star, three-time American League MVP and 2009 World Series champion.

The two released a statement about the coming purchase of the franchise, which begins as a minority stake and mentorship under current owner Glen Taylor.

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Negotiations between Taylor, Lore and Rodriguez advanced rapidly over the last week, with the Lore-Rodriguez group winning Taylor over.

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The purchase is expected to be in the $1.5 billion range.

With the news of Rodriguez being part of the group that is purchasing the Timberwolves, there were immediate questions about whether or not he would potentially try and move the team to Seattle.

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Rodriguez spent the first seven years of his career from 1994 through 2000 as a member of the Seattle Mariners.

But it is believed that the team will remain in Minnesota to oblige the wishes of Taylor, the Timberwolves' current owner.

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This deal comes after Timberwolves legend Kevin Garnett had made multiple attempts to try and purchase the franchise after he retired.

But those attempts fell short and a new era is set to begin in Minnesota.

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