• Loading stock data...
Friday, August 29, 2025
The biggest names in sports media. All in one room. Get your ticket now!

A-Rod, Lore Deposit $940M As Wolves Ownership Hearing Nears

  • Alex Rodriguez and Marc Lore made a large escrow deposit in advance of a key upcoming arbitration hearing.
  • The NBA team, still carrying title aspirations, reportedly locks up center and franchise cornerstone Rudy Gobert.
May 22, 2024; Minneapolis, Minnesota, USA; Minnesota Timberwolves minority owners Marc Lore and Alex Rodriguez look on in the second half against the Dallas Mavericks during game one of the western conference finals for the 2024 NBA playoffs at Target Center.
Bruce Kluckhohn-Imagn Images

The long-running ownership drama surrounding the Timberwolves may be inching closer to resolution, as part-owners Alex Rodriguez and Marc Lore have made a large escrow deposit in advance of a key upcoming hearing. Regardless of who ultimately owns the team, though, another big bill is now on the way.

Rodriguez and Lore, who have been battling with current majority owner Glen Taylor over control of the team, recently made a deposit of more than $940 million into an escrow account, according to industry sources and multiple reports. The outlay is designed to show they have the financial wherewithal to complete the original $1.5 billion deal. The two have already made two prior payments to amass a 40% minority stake in the Timberwolves and WNBA’s Lynx.

The dispute has been in arbitration for months after conventional dealmaking, and then mediation, failed after Taylor abruptly pulled the team off the market in March. Rodriguez and Lore intended to complete a multistage acquisition of team majority control, but Taylor contended the pair did not meet key deadlines originally set in 2021—setting off the still-active conflict. 

A hearing in that arbitration process is set for Nov. 4. If Rodriguez and Lore prevail there, the purchase would then be subject to approval by the NBA Board of Governors, where at least 23 of 30 teams would need to support the deal.  

Rodriguez is currently in Los Angeles and set to be part of Fox’s on-air broadcast team for the high-profile World Series. He and Lore also have received financial support for their efforts from former New York mayor Michael Bloomberg, among others.

Should the deal be finalized, Rodriguez and Lore would be receiving a significant discount on current team values. The Timberwolves in particular carry an estimated valuation of $2.5 billion, and both NBA and WNBA team values are still rising amid new domestic media deals for both leagues. 

Big Signing

The ultimate majority owner of the Timberwolves, meanwhile, will be responsible for big payments to center and franchise cornerstone Rudy Gobert. The 32-year-old Gobert, last season’s NBA Defensive Player of the Year and a four-time winner of that honor, has agreed to a three-year, $110 million extension, according to an ESPN report. 

The pact, foregoing a $46.6 million player option for next season, keeps Gobert in place through the 2027–2028 campaign, a key move in Minnesota’s title aspirations after reaching the Western Conference finals this past spring, falling to Dallas. Gobert is now an even more critical piece to the Timberwolves’ roster after the team recently traded away star big Karl-Anthony Towns to the Knicks, showcasing the large role of salary-cap management in the NBA’s current labor deal.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Dallas Wings

WNBA Teams Desperate to Expand Rosters Amid ‘Extreme Hardship’ 

The Wings are scrambling to field eight players Friday night.
Candace Parker

Candace Parker Not a WNBA Owner Yet, but Her Business Is Booming

Her WNBA peers say she made the blueprint for earning off the court.
Breanna Stewart

Breanna Stewart’s Injury Meant Rare Presence at WNBA CBA Talks

Stewart “makes the league sit up straight,” the union director told FOS.
May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.

Mark Cuban on Why NBA Expansion Isn’t Imminent

Cuban said the next CBA could help solve some expansion issues.

Featured Today

‘You’re Going to Get Beat Up’: The Liberty’s All-Male Practice Squad

A select group suits up weekly to take on the defending champs.
August 24, 2025

The Honey Deuce Effect: How Tennis Perfected the Signature Cocktail

Sold every 1.5 seconds, they total more than $12 million in sales.
Dec 21, 2024; Austin, Texas, USA; Texas Longhorns quarterback Arch Manning (16) warms up as the Texas Longhorns prepare to play the Clemson Tigers in the first round of the College Football Playoffs at Darrell K Royal Texas Memorial Stadium.
August 23, 2025

Schools Are Hesitant to Allow PE Into Their Athletic Departments

Regardless of budget, schools don’t believe the risk is worth the reward.
Oct 2, 2024; Rosemont, IL, USA; Big Ten commissioner Tony Petitti speaks with the media during the 2024 Big Ten Women’s Basketball media day at Donald E. Stephens Convention Center.
August 22, 2025

‘Not Ready to Jump In’: Power 4 Commissioners Aren’t Sold on PE

Top leaders in college sports have yet to see a satisfactory proposal.

Cowboys Can’t Bank on Mavericks’ Lottery Luck After Parsons Trade

The Mavericks lucked into Cooper Flagg through the 2025 NBA draft lottery.
August 28, 2025

Connor McDavid: ‘All Options on Table’ As Historic Free Agency Looms

The Oilers superstar remains largely mum on his long-term plans.
August 28, 2025

Rhyne Howard Calls Out Dream Fans for A’Ja Wilson ‘MVP’ Chants

The Las Vegas Aces overtook the Atlanta Dream in the standings.
Sponsored

Gareth Bale on MLS vs EPL, Retirement & Buying Cardiff City

Gareth Bale shares his post-soccer business playbook.
United
August 28, 2025

Manchester United Knocked Out of Cup by Team With $2.6 Million Payroll

United’s team payroll is almost 100 times larger than Grimsby’s.
Monica Wright
August 26, 2025

WNBA Expansion Teams Still in Dark As CBA Fight Drags On

Portland and Toronto won’t know the draft rules until a CBA is signed.
August 25, 2025

Trey Hendrickson Ends Stalemate for $14 Million Bengals Raise

The defensive end will make $30 million this season.
August 22, 2025

$2B A’s Vegas Stadium Hits Milestones, on Track for 2028

Construction progress and costs pick up in the Las Vegas project.