NBA team owners have unanimously approved the sale of the Minnesota Timberwolves from Glen Taylor to Marc Lore and retired baseball star Alex Rodriguez, the league announced Tuesday.
The transaction, expected to close this week, leaves Lore and Rodriguez and co-chairman of the T-Wolves and Women’s NBA Minnesota Lynx.
Taylor tried to stop the multi-year process after agreeing to a reported $1.5 billion deal in 2021, but declined to appeal an arbitrator’s ruling that set up Lore and Rodriguez completing the deal.
“After 30 unforgettable years, our time as owners of the Minnesota Timberwolves and Lynx has come to a close,” Taylor said in a statement for himself and wife Becky.
“This marks the end of an extraordinary chapter in our lives one filled with purpose, pride, and a deep connection.”
Lore, a businessman, and Rodriguez, a 14-time MLB All-Star who won a World Series in 2009 with the New York Yankees, will take charge of a team that went 49-33 and lost in the Western Conference finals for the second year in a row.
“We are honored to lead the Timberwolves and Lynx into a bold and exciting new era,” Lore said. “Today marks a momentous milestone for us, and we fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises.
“We are committed to building an organization that sets the standard for excellence, is universally admired, and rooted in pride that spans generations.”
Rodriguez, who retired in 2016, has served as a television commentator.
“I’ve dedicated my entire life to the world of sports, not just as a game, but as a powerful force that unites people, uplifts communities, and changes lives,” Rodriguez said.
“I’m incredibly honored and energized to roll up my sleeves and get to work. I know what it takes to be a champion and I’m ready to bring that same commitment and drive to create a winning culture in Minnesota.”
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