NBA Approves $1.5B Timberwolves and Lynx Sale to Marc Lore and Alex Rodriguez
After more than four years of drawn-out negotiations, delays, and a last-minute dispute, the sale of the Minnesota Timberwolves and WNBA’s Minnesota Lynx is finally official.
The NBA’s Board of Governors unanimously approved the $1.5 billion sale from longtime owner Glen Taylor to a group led by billionaire entrepreneur Marc Lore and former MLB star Alex Rodriguez. The transaction—which includes both the NBA and WNBA franchises—is expected to close this week.
The approval marks the end of a 31-year ownership run for Taylor, who saved the Timberwolves from relocation in 1994 and helped build the Lynx into a four-time WNBA champion.
A Deal Years in the Making
The sale process began in 2021, when Lore and Rodriguez entered into a phased agreement with Taylor. But it wasn’t without turbulence.
Earlier this year, Taylor tried to walk away from the deal, claiming Lore and Rodriguez missed a deadline to finalize the third and final payment, which would’ve given them majority control. Lore and Rodriguez pushed back, calling the move “seller’s remorse” and blaming league approval delays—not a lack of commitment—for the timing.
The dispute went to arbitration, where a three-judge panel sided with the Lore-Rodriguez group. Taylor ultimately chose not to appeal and agreed to complete the sale.
New Leadership, New Vision
Under the new ownership structure:
- Marc Lore will serve as governor of the Timberwolves and alternate governor of the Lynx.
- Alex Rodriguez will be governor of the Lynx and alternate governor of the Timberwolves.
- Both will act as co-chairmen of the franchises’ board.
Lore and Rodriguez, close friends who first met over a Zoom call during the pandemic, have repeatedly emphasized their commitment to keeping both teams in Minnesota. A formal introduction is planned during the NBA Summer League in Las Vegas next month.
“We fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises,” Lore said in a statement. “We are committed to building an organization that sets the standard for excellence.”
Rodriguez added, “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 Minnesota.”
A Legacy Comes to a Close
Glen Taylor, now 83, bought the Timberwolves in 1994 for around $88 million to keep the team from relocating to New Orleans. Over the years, he added the Lynx and invested heavily in both franchises.
In a farewell letter published in the Minnesota Star Tribune—a paper he also owns—Taylor and his wife Becky reflected on their three-decade tenure:
“This marks the end of an extraordinary chapter in our lives—one filled with purpose, pride, and a deep connection. Though we are stepping away as owners, our love for this organization and this community remains as strong as ever. We will always be fans.”
During his final season at the helm, the Timberwolves reached the Western Conference Finals—a high note to end on. Still, the team’s overall history under Taylor includes the worst all-time winning percentage in the NBA (.416) and 10 first-round playoff exits in 13 appearances.
Valuation and Market Context
The sale comes as NBA franchise values continue to soar:
- Timberwolves’ valuation: Estimated between $3.1 billion (Forbes) and $3.29 billion (Sportico), despite being ranked near the bottom of the league due to their small market and aging arena.
- Lynx valuation: Estimated at $230–$240 million, also in the lower half of WNBA team valuations.
The transaction also includes a high-profile investor group, with names like Michael Bloomberg and Eric Schmidt (former Google CEO) backing Lore and Rodriguez.
The Men Behind the Bid
- Marc Lore, estimated to be worth $2.9 billion, is the founder of several e-commerce companies, including Jet.com (sold to Walmart). He currently serves as CEO of Wonder, a New York-based meal delivery startup.
- Alex Rodriguez, a 14-time MLB All-Star, transitioned from baseball to business, focusing on real estate development and private equity. Though his legacy in sports remains complicated due to PED use, he’s earned respect for his business acumen, having made over $450 million in career earnings.
What’s Next?
Fans can expect more details and vision from Lore and Rodriguez during the July Summer League. For now, the torch has been officially passed—from a hometown billionaire who kept basketball alive in Minnesota, to a new era led by two ambitious owners promising to elevate the franchises on and off the court.
Source: AP News – NBA owners unanimously approve $1.5B sale of Wolves, WNBA’s Lynx from Taylor to Lore-Rodriguez group
