One of the most combative and protracted team sales in pro sports history is now formally resolved as the NBA Board of Governors unanimously approved Tuesday the $1.5 billion transfer of the Timberwolves and WNBA’s Lynx from Glen Taylor to Marc Lore and Alex Rodriguez.
The pair are now set to take on majority control of the franchise while Taylor is departing after more than 30 years of owning the NBA team. Taylor said in a statement that the sale “marks the end of an extraordinary chapter in our lives—one filled with purpose, pride, and a deep connection.”
The league vote represented the final approval of a multistage transfer of the teams that had been in various levels of dispute for more than four years. After originally signing a deal in 2021 calling for the sale of the Timberwolves and Lynx, Taylor alleged that Lore and Rodriguez missed a key payment deadline and sought to retake control of the teams permanently.
The matter then went to an arbitrator, who ruled in favor of Lore and Rodriguez, who are now reportedly buttressed in the deal financially by former New York mayor, U.S. presidential candidate, and media magnate Michael Bloomberg.
“Today marks a momentous milestone for us, and we fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises,” Lore said in a statement. Lore will be governor of the Timberwolves and Rodriguez will be alternate governor, with the roles reversed for the Lynx.
Big To-Do List
A closing on the transaction is now set for Wednesday. Once that is done, Lore and Rodriguez will immediately have a substantial set of tasks to keep the Timberwolves and Lynx on a solid path.
The Timberwolves remain one of the NBA’s most talented teams, reaching the Western Conference finals each of the past two years, including this past season, when they lost to the eventual league champion Thunder. The franchise, however, is above the second apron of the NBA’s salary cap, and should they remain so, will see a series of additional penalties such as frozen and reduced draft picks and an inability to use the mid-level exception in free agency.
Already, the Timberwolves have traded former star Karl-Anthony Towns to the Knicks, where he’s become a key fixture for that team, and future retooling in Minnesota, such as what the Celtics are now doing, could be in the offing.
The Lynx, meanwhile, have an even more successful legacy as one of the WNBA’s top teams with four league titles and seven conference championships, including last year. The team features forward Napheesa Collier, currently the WNBA’s leading scorer and, to many observers, the league’s top player, who is set to become a free agent after the 2025 season.
The team’s home arena, Target Center in downtown Minneapolis, is 35 years old and, despite a $145 million round of renovations in 2017, is in need of further upgrades. A new arena could also be contemplated, but political resistance is likely there.
