Overview

• Glen Taylor has agreed to sell 100% ownership of the Minnesota Timberwolves and Lynx to Alex Rodriguez and Marc Lore for $1.5 billion, following a February arbitration ruling in favor of the buyers.
• The NBA has initiated its approval process, including a Board of Governors vote, which is expected to proceed without complications.
• Rodriguez and Lore have secured $950 million in escrow to complete the transaction and have added high-profile investors, including Michael Bloomberg and Eric Schmidt.
• Taylor will retain lifetime access to courtside seats, a suite, and parking for home games as part of the agreement.
• The Timberwolves and Lynx are now valued at over $3 billion, reflecting significant growth since the initial sale agreement in 2021.