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3w ago

NBA Governors Approve $1.5 Billion Sale of Timberwolves and Lynx

Resolving a four-year dispute with Glen Taylor, the agreement will allow Marc Lore and Alex Rodriguez to take ownership when it closes this week.

Apr 12, 2022; Minneapolis, Minnesota, USA; Minnesota Timberwolves co-minority owners Alex Rodriguez and Marc Lore celebrate a victory over the Los Angeles Clippers after a play-in game at Target Center. Mandatory Credit: Nick Wosika-USA TODAY Sports/File Photo
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Overview

  • The NBA Board of Governors voted unanimously on June 24 to approve the $1.5 billion sale; the transaction is expected to close later this week.
  • Former owner Glen Taylor’s attempt to cancel the sale in March 2024 triggered arbitration, where a three-person panel ruled 2-1 in favor of Lore and Rodriguez in February 2025.
  • Marc Lore will assume the Timberwolves governor role with Alex Rodriguez as alternate; Rodriguez will become Lynx governor with Lore as his alternate.
  • The deal transfers controlling interests in the NBA’s Timberwolves; it also covers the WNBA’s Minnesota Lynx; the agreement reaches the G League’s Iowa Wolves.
  • Lore has pledged to keep all franchises in Minnesota; Rodriguez has confirmed the same commitment; they have signaled plans to review the Target Center’s future as part of building a championship culture.