NBA owners have unanimously approved the $1.5 billion sale of the Minnesota Timberwolves and WNBA’s Minnesota Lynx from longtime owner Glen Taylor to an investment group led by e-commerce entrepreneur Marc Lore and former baseball star Alex Rodriguez. The deal, which took over four years to finalize, represents one of the largest franchise sales in NBA history.
Complex Journey to Completion
The ownership transfer faced significant obstacles after Taylor attempted to back out of the agreement in March 2024, claiming Lore and Rodriguez missed a payment deadline. The dispute went through mediation and arbitration, with a three-panel judge ultimately ruling in favor of the new ownership group. Taylor decided not to appeal the decision in April 2025.
New Leadership Vision
Lore will serve as Timberwolves governor with Rodriguez as alternate governor, while Rodriguez takes the governor role for the Lynx. The business partners, who met during the pandemic, have committed to keeping both teams in Minnesota. Their investment group includes notable figures like former New York City mayor Michael Bloomberg and former Google executive Eric Schmidt.
The 83-year-old Taylor, who purchased the Timberwolves for $88 million in 1994 to prevent them from relocating to New Orleans, leaves behind a mixed legacy. Despite reaching the playoffs in his final four seasons, the franchise holds the worst all-time regular season record among current NBA teams at .416 winning percentage.
The sale is expected to close this week, with an introductory press conference planned for next month during the NBA Summer League in Las Vegas.