The NBA has officially approved the $1.5 billion sale of the Minnesota Timberwolves and WNBA's Minnesota Lynx to entrepreneur Marc Lore and former MLB star Alex Rodriguez.
The league's board of governors voted unanimously on Tuesday, finalizing a process that began in 2021 and included a legal dispute with outgoing owner Glen Taylor.
Lore and Rodriguez will take on roles as co-chairmen for both teams. According to AP News, Lore will be the team governor for the Timberwolves, while Rodriguez will serve as the alternate governor.
The roles reverse for the Lynx. A formal introduction for the new owners is set for next month during NBA Summer League in Las Vegas.
"We fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises," said Lore in a statement. "We are committed to building an organization that sets the standard for excellence."
Rodriguez shared that he understands the dedication it takes to become a champion and expressed his commitment to building a winning culture in Minnesota.
The NBA Board of Governors has unanimously approved the sale of the controlling interests in the Minnesota Timberwolves and the WNBA’s Minnesota Lynx from Glen Taylor to Marc Lore and Alex Rodriguez. pic.twitter.com/dM5Se1l6ye
— NBA Communications (@NBAPR) June 24, 2025
Glen Taylor Steps Down After 31 Years as Timberwolves Owner
Glen Taylor, who bought the Timberwolves in 1994 for $88 million to keep the team from relocating, originally struck the deal with Lore and Rodriguez in 2021.
However, the transaction hit a major bump in March 2024 when Taylor claimed the pair missed a payment deadline.
The disagreement was settled through arbitration, with the panel ruling in favor of Lore and Rodriguez.
Taylor ultimately chose not to appeal, ending his 31-year run as majority owner. In a farewell message, Taylor and his wife Becky thanked fans and the community, CBS Sports said.
"We will always be fans, cheering from our seats, celebrating your triumphs, and believing in what comes next," the Taylors wrote.
The Timberwolves recently reached the Western Conference Finals, marking one of the team's best seasons under Taylor's ownership.
Still, the franchise holds the league's worst all-time regular season record at 1,196-1,680.
The new owners, who first met on a Zoom call during the pandemic, say they are committed to keeping both teams in Minnesota.
Their investment group includes high-profile names like Michael Bloomberg and former Google executive Eric Schmidt.
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