Photo: Minnesota Timberwolves

Former New York City Mayor Michael Bloomberg, one of the wealthiest individuals globally, has agreed to join Marc Lore and Alex Rodriguez’s ownership group to purchase the Minnesota Timberwolves/Lynx, as reported by NBA insider Shams Charania.

This development comes after the Timberwolves’ ownership saga, with Lore and Rodriguez’s previous deal falling through in March 2024. Despite setbacks, Bloomberg’s entry injects fresh momentum into the ownership bid.

The Timberwolves made headlines during the 2024 playoffs, sweeping the Phoenix Suns 4-0 in the first round.

Facing the Denver Nuggets in the Conference Semifinals, the Timberwolves engaged in a thrilling seven-game series. Despite being down by 15 points at halftime in Game 7, they mounted a remarkable comeback, securing a spot in the Western Conference Finals.

Their journey concluded against Luka Doncic and the Dallas Mavericks, ending with a 4-1 series defeat.

Bloomberg’s entry into the ownership group adds another layer of intrigue to the Timberwolves’ future. With his financial backing and Lore and Rodriguez’s vision, the franchise aims to build a competitive team and reshape its legacy in the NBA.

Stay tuned for more updates as the Timberwolves’ ownership situation evolves and the team prepares for the upcoming NBA season.