• Loading stock data...
Friday, May 9, 2025
Join us May 14 at 1 p.m. ET for Future of Sports: Leagues of Their Own Register Now

A-Rod, Lore Buy Another 20% of Minnesota NBA, WNBA Teams

  • Marc Lore and Alex Rodriguez have reportedly exercised their option to buy the next 20% of the Minnesota Timberwolves and Lynx.
  • The pair entered an agreement in 2021 to buy the teams for $1.5 billion.
Minnesota Timberwolves owner A-Rod stands court side
Gary A. Vasquez-USA TODAY Sports

Marc Lore and Alex Rodriguez are taking the next step in the process of becoming majority owners of the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx.

The pair have exercised their option to purchase the next 20% of the teams, according to The Athletic. They entered an agreement to buy the teams in May 2021 for $1.5 billion, starting with a 20% installment.

  • Lore and Rodriguez’s reported deadline to inform current majority owner Glen Taylor — who purchased the team for $88 million in 1994 — was Saturday.
  • They reportedly have until March 15 to close the transaction.

The next installment for Lore and Rodriguez would be another 40% of the teams, an option that can be exercised until Dec. 31, 2023.

Forbes last valued the Timberwolves at $1.67 billion.

Splitting for Seattle?

Meyer Orbach, who owns 17% of the teams, sued Taylor for $300 million shortly after the deal over a potential move — it was reported that Lore and Rodriguez were interested in moving the Timberwolves to Seattle.

Taylor has expressed confidence that the teams will stay in Minnesota, but there is no legal language in the existing agreement guaranteeing it. Breaking the team’s lease at Target Center, which ends in 2035, would cost $50 million.

A federal judge dismissed Orbach’s claims in July 2021.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Celtics-Knicks Game 3 Tickets Near Super Bowl Prices

Game 3 against the Celtics has resale ticket prices beginning around $700.

Stars’ $96M Rantanen Bet Paying Off Big at Other Teams’ Expense

Rantanen was traded by Colorado after not agreeing to a contract extension.

Reeling Cavs Have NBA’s Third-Most-Expensive Roster Next Season

Cleveland trails the Pacers, 2–0, in the conference semifinals.

Featured Today

Fat Perez reacts after hitting his shot on the 16th tee during the WHOOP Shot at Glory on the 16th hole at TPC in Scottsdale on Feb. 5, 2025.

Golf Influencers Are the New Currency for PGA Tour and LIV

YouTube golf is big business. The rival tours are staging formal events.
Feb 8, 2025; New York, New York, USA; New York Knicks assistant coach Rick Brunson talks with New York Knicks guard Jalen Brunson (11), forward Mikal Bridges (25), and guard Josh Hart (3) during a timeout in the third quarter against the Boston Celtics at Madison Square Garden.
May 6, 2025

Before the Villanova Knicks, There Were the Kentucky Celtics

Three decades ago, Boston tried its own version of the college-teammate experiment.
Mar 22, 2025; Miami, FL, USA; Joao Fonseca (BRZ) reacts after winning a point against Ugo Humbert (FRA)(not pictured) on day five of the Miami Open at Hard Rock Stadium.
May 6, 2025

João Fonseca Is a Teen Tennis Phenom. His Parents Are Overseeing His..

The Brazilian is forgoing a management team in favor of his parents.
Athlos
May 4, 2025

Nike Wants to Pull Off the First Women’s Sub-4:00 Mile

Experts speak on whether Nike’s “moonshot” is realistic or a gimmick.
White Sox

Pope Confirmed White Sox Fan After False Cubs Claims

Pope Leo XIV’s brother confirmed the pontiff is a White Sox fan.
PSG
May 8, 2025

PSG in Champions League Final After Shedding Nine-Figure Superstar Salaries

PSG previously tried to win with a trio of Neymar, Messi, and Mbappé. 
Feb 13, 2018; Las Vegas, NV, USA; Chicago Blackhawks coach Joel Quenneville reacts in the second period of an NHL hockey game against the Vegas Golden Knights at T-Mobile Arena.
May 8, 2025

Joel Quenneville Back in NHL After Ban for Blackhawks Scandal

The former Chicago coach was banned from the NHL until last year.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Portfolio Players is our bi-weekly spotlight on the athletes and investors reshaping the business of sports. This week, venture capitalist Kai Cunningham unpacks why athletes land top deals and how the usual investing rules don’t always apply.
Jayson Tatum
May 8, 2025

The All-In Celtics Are Suddenly on the Brink

The defending champions find themselves down 2–0 and facing an expensive future.
Kansas City Chiefs quarterback Patrick Mahomes (15) raises the Lamar Hunt Trophy with tight end Travis Kelce (87) after the AFC championship NFL game between the Cincinnati Bengals and the Kansas City Chiefs on Jan. 29, 2023, at Arrowhead Stadium in Kansas City.
May 7, 2025

F1 Team Part-Owned by Mahomes, Kelce Makes Changes Amid Struggle

Alpine is ninth in the constructors’ championship.
Milwaukee Brewers Hot Dog Club promotion
May 7, 2025

Brewers Undo Sales Tax on ‘Free’ Hot Dog Promotion

At least one fan was outraged by a surprise charge.
May 7, 2025

Even As Pacers Keep Winning, No Arena Conflict With Caitlin Clark, Fever

The Pacers are ahead 2–0 in the conference semifinals against the Cavaliers.