Alex Rodriguez is finally getting into the owner's box ... he's in the final steps of closing a deal to buy the Minnesota Timberwolves and Lynx for $1.5 BILLION!!

A-Rod had partnered up with former Walmart exec Marc Lore to make a run at the NBA and WNBA teams, both owned by billionaire Glen Taylor.

And, according to multiple outlets including The Athletic and Front Office Sports, the group has a deal in place to close for $1.5 billion.