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The NBA Board of Governors has unanimously approved the $1.5 billion sale of the Minnesota Timberwolves and the WNBA's Minnesota Lynx from longtime owner Glen Taylor to an investment group led by former Walmart executive and e-commerce entrepreneur Marc Lore and former Major League Baseball star Alex Rodriguez. This approval concludes a prolonged and contentious process that began in 2021, marking the end of Taylor's 30-year tenure as owner. The transaction officially transfers majority control of both teams to Lore and Rodriguez, who had been limited partners prior to the acquisition. The deal is expected to close shortly following the NBA's endorsement, ushering in a new era for the Minnesota franchises.
Alex Rodriguez and Marc Lore met with the media for the first time since they were approved as the new owners of the Minnesota Timberwolves and Lynx. @Alex__Schiffer reports from their press conference ⬇️
Alex Rodriguez on a potential Timberwolves rebrand: "We've done a lot of work in the background. I think our fan base is going to be very, very excited…Bringing back some of the history of the KG days is something we're very aware is important to our fans” via @JonKrawczynski https://t.co/NyK78Yn74P
Alex Rodriguez on a potential Wolves rebrand: "We've done a lot of work in the background. I think our fan base is going to be very, very excited. ... Bringing back some of the history of the KG days is something we're very aware is important to our fan base."
