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

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The Los Angeles Lakers just set a jaw-dropping new standard in sports franchise sales: $10 billion.

That’s the valuation in a record-shattering deal announced Wednesday, as the Buss family agreed to sell controlling ownership of the legendary NBA team to billionaire investor Mark Walter — best known as the controlling owner of the Los Angeles Dodgers. It marks the largest sale of a sports franchise in history, not just in the U.S., but globally.

To put that in perspective, Jerry Buss bought the Lakers in 1979 for just $67.5 million, a package deal that also included the NHL’s Los Angeles Kings and the Forum. After his death in 2013, control of the team passed to his children, with Jeanie Buss serving as team governor. Even with this historic sale, Jeanie is expected to stay on in that role.

A New Benchmark for Sports Franchise Sales

The Lakers’ $10 billion price tag easily leapfrogs every other sports sale on record — here’s how the competition compares across leagues:

NBA: The High-Flyers

Before this week, the Boston Celtics held the record for the most expensive NBA team sale — $6.1 billion, purchased by a group led by Bill Chisholm earlier this year. That narrowly edged out the $6.05 billion paid by Josh Harris’ group for the NFL’s Washington Commanders.

Other massive NBA deals include:

• Phoenix Suns: $4 billion (Mat Ishbia, 2023)
• Dallas Mavericks: $3.5 billion (Adelson and Dumont families)
• Brooklyn Nets: $3.3 billion (Joseph Tsai)

With the Lakers now in a class of their own, the NBA officially boasts the most expensive franchise in North American sports history.

NFL: Still a Heavyweight, But Outpaced

The Washington Commanders had held the North American record until recently with their $6.05 billion sale in 2023. That deal ended Dan Snyder’s tumultuous tenure as owner.

Other top NFL sales:

• Denver Broncos: $4.65 billion (Walton-Penner group, 2022)
• Carolina Panthers: $2.275 billion (David Tepper, 2018)

Fun fact: Pat Bowlen bought the Broncos for just $70 million in 1984. His heirs sold the team nearly 40 years later for more than 66 times that.

MLB: Still Swinging Big

While not quite at NBA or NFL levels, Major League Baseball has seen its share of billion-dollar deals.

• New York Mets: $2.4 billion (Steve Cohen, 2020)
• Los Angeles Dodgers: $2 billion (Mark Walter & Guggenheim, 2012)
• Miami Marlins: $1.3 billion (Bruce Sherman, 2018)
• Kansas City Royals: $1 billion (John Sherman, 2020)
• Baltimore Orioles: $1.725 billion (David Rubenstein, 2024)

The Mets sale was especially notable — not just for the price tag, but for how dramatically Cohen revamped the team, taking the payroll from $195 million in 2021 to over $300 million in 2025. That included a blockbuster signing of Juan Soto after prying him away from the Yankees.

Meanwhile, the Tampa Bay Rays are reportedly in advanced talks for a $1.7 billion sale, which would put them near the top of MLB’s all-time sales list.

NHL: Gaining Ground with Billion-Dollar Sales

Yes, even hockey is getting in on the action. The Tampa Bay Lightning set a new NHL record in 2024 when they sold for $1.8 billion to a group led by Doug Ostrover and Marc Lipschultz of Blue Owl Capital. Although current owner Jeff Vinik will retain operational control for now, full ownership will transfer in three years.

Other notable NHL sales:

• Ottawa Senators: $950 million (Michael Andlauer, 2023)
• Utah Hockey Club (formerly Arizona Coyotes): $1.2 billion (Ryan Smith, 2024)

Ryan Smith, who also owns the NBA’s Utah Jazz, moved the struggling Coyotes to Salt Lake City, rebranding them as the Utah Hockey Club for the 2024–25 season.

Expansion costs are also rising fast in the NHL. Compare this:

• 1998–2000: Nashville, Atlanta, Columbus, and Minnesota each paid $80 million to join.
• 2016: Las Vegas Golden Knights joined for $500 million.
• 2018: Seattle Kraken entered the league for a whopping $650 million.

The Big Picture

The Lakers’ $10 billion sale isn’t just a new high — it’s a seismic shift in the valuation of sports franchises. As media rights balloon, streaming becomes the norm, and global markets open up, elite sports teams are evolving into mega-investments.

But whether you’re a diehard fan or a business analyst, one thing’s clear: owning a professional sports team isn’t just about prestige anymore — it’s about serious money.

And the Lakers just raised the bar for everyone.

Source: Yahoo Sports – How the Los Angeles Lakers’ $10 billion sale compares to the price tags of other North American sports franchises

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