Marc Lore and Alex Rodriguez officially become Timberwolves owners

The saga is finally over. After more than 50 months of complex proceedings and a long legal battle, Marc Lore and Alex Rodriguez have officially become the new owners of the Minnesota Timberwolves and the Minnesota Lynx. The NBA owners unanimously approved this historic $1.5 billion sale on Tuesday, June 24.
A transaction marking the end of the Glen Taylor era
This finalization ends a process that began on April 10, 2021, nearly 1,500 days later. Glen Taylor, 83, is handing over control of the franchises he had owned since 1994 for the Timberwolves and 1998 for the Lynx.
« This marks the end of an extraordinary chapter in our lives – a chapter filled with purpose, pride, and deep connections, » Glen Taylor and his wife Becky explained in a farewell statement. « When we prevented the Timberwolves from moving to New Orleans in 1994, we did so hoping to build something that could unite people across Minnesota and beyond. »
The transaction took a dramatic turn in March 2024, when Taylor attempted to cancel the sale, accusing Lore and Rodriguez of missing a payment deadline. The new owners contested this decision, leading to arbitration that ultimately ruled in their favor.
High ambitions for the new owners
Marc Lore, an e-commerce entrepreneur whose fortune is estimated at $2.9 billion by Forbes, and Alex Rodriguez, former baseball superstar, have big ambitions for their new franchises. Lore will serve as governor for the Timberwolves, while Rodriguez will take this role for the Lynx.
« We are fully aware of the great responsibility that comes with managing these exceptional franchises, » said Marc Lore. « We are determined to build an organization that sets an example in excellence, will be universally admired, and whose pride will extend across generations. »
Rodriguez, who earned over $450 million in salaries during his 22 years in MLB, shares this ambitious vision: « I’ve dedicated my entire life to sports, for the game itself, but also as a powerful force that unites people, elevates communities, and changes lives. I know what it takes to be a champion, and I’m ready to bring the same commitment and motivation to create a winning culture in Minnesota. »
The Timberwolves’ value has more than doubled since the initial 2021 agreement, with Forbes now estimating the franchise at $3.1 billion. An introductory press conference is scheduled for next month in Las Vegas during the NBA Summer League.
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