• Loading stock data...
Saturday, August 9, 2025
Tuned In returns to NYC on September 16. Hear from the biggest names in sports media. Click here to get your spot

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

WNBA Struggling to Prevent Repeat Dildo Incidents

The league appears to have no answers to the copycats plaguing games.
NC State

NC State ‘Cardiac Pack’ Team Loses NCAA Suit for NIL Back Pay

The 1983 team was among college basketball’s greatest Cinderella stories. 
WNBA

Crypto Group Says It’s Behind WNBA Dildo Epidemic

The group backs a memecoin that launched last week.

Featured Today

Dec 14, 2019; Philadelphia, PA, USA; President Donald Trump wave during the second quarter of the game between the Navy Midshipmen and the Army Black Knights at Lincoln Financial Field

‘Political Gold’: Trump Putting His Stamp on College Sports 

Trump has embraced executive action on hot-button college sports issues.
August 3, 2025

Inked Under Anesthesia: Athletes Getting $50,000 Tattoos

High-end studios, elite artist teams, and hours under anesthesia.
Coco Gauff at New York Liberty
August 2, 2025

How the New York Liberty Became the Hottest Ticket in Town

Once banished to the burbs, the Libs are now Brooklyn’s marquee attraction.
Las Vegas sign
July 29, 2025

College Sports Embracing Vegas After Years of Cold Shoulder

The Big Ten became the latest newcomer to Sin City.
Jan 16, 2022; Arlington, Texas, USA; Dallas Cowboys outside linebacker Micah Parsons (11) meets with owner Jerry Jones (center) and NFL commissioner Roger Goodell (right) prior to the NFC Wild Card playoff football game against the San Francisco 49ers at AT&T Stadium. Mandatory

Micah Parsons and 6 Other Cowboys Holdouts—and How the Standoffs Ended

A brief history of Dallas Cowboys contractual disputes.
August 5, 2025

Spurs Are Spending Big Now, but Can They Afford Their Future?

San Antonio traded for Fox in February ahead of the trade deadline.
August 6, 2025

Former Heat Security Guard Indicted in $2M Memorabilia Scheme

He is accused of stealing more than 400 game-worn jerseys and other memorabilia, prosecutors say.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
August 5, 2025

Mammoth vs. Mammoth: NHL Team Strikes First in Trademark Feud

The Utah NHL team announced its new name in May.
August 2, 2025

Bengals Extend Stadium Lease After $350M in Public Funds for Renovation

The Bengals will stay in the 25-year-old stadium through at least 2036.
August 1, 2025

Commanders Seal Stadium Deal As D.C. Approves $1.1B in Funding

The NFL team’s return to its prior home receives key political support.
July 31, 2025

Ferrari Extends F1 Boss Weeks After Red Bull Fire Horner

Fred Vasseur joined Ferrari in 2023.