A-Rod and Lore Secure $940M for Timberwolves Ownership Battle

Alex Rodriguez and Marc Lore have placed $940 million in escrow as they prepare for arbitration to gain full control of the Minnesota Timberwolves and Lynx.

Rodriguez and Lore initially agreed to purchase the teams for $1.5 billion in 2021, acquiring stakes in increments.
The dispute arose after a missed deadline for a final payment in March, leading to an arbitration hearing set for November 4.
Billionaire Michael Bloomberg joined the ownership group, contributing to the funds needed to complete the purchase.
Current owner Glen Taylor claims the sale is off, citing missed deadlines, while Rodriguez and Lore argue for an extension due to NBA approval delays.
The Timberwolves' value has surged to $2.94 billion, with the Lynx valued at $85 million, complicating the ownership stakes.