Former MLB star Alex Rodriguez and entrepreneur Marc Lore are set to become the sole owners of the Minnesota Timberwolves after reaching an agreement with current owner Glen Taylor.
The deal, which was initially announced in 2021 for $1.5 billion, faced setbacks in 2024 when Taylor attempted to back out, citing a missed deadline. However, a recent arbitration ruling has compelled Taylor to proceed with the sale to Rodriguez and Lore, who already owned a 40 percent stake in the team. The NBA board of governors must now approve the transfer of ownership, requiring at least 23 out of the 30 teams to vote in favor. Taylor, who purchased the Timberwolves in 1994 for $94 million, has agreed to move forward with the deal, bringing an end to the prolonged negotiations.
