Glen Taylor has agreed to transfer full ownership of the Minnesota Timberwolves and Lynx to Marc Lore and Alex Rodriguez, ending a lengthy legal battle.
NBA insider Shams Charania reported that Taylor will not appeal the February arbitration ruling that favored Lore and Rodriguez. The NBA will now begin the formal approval process for the ownership transfer.
The sale will be completed at the previously agreed-upon price of $1.5 billion, which Taylor and the investor group finalized in 2021. Taylor, who purchased the Timberwolves for $94 million in 1994, will step away after 31 years as the team’s owner.
Minnesota’s ownership saga had been a source of controversy for months. The dispute centered around Taylor’s claim that Lore and Rodriguez missed a key payment deadline in March 2024, which would have given them an 80% majority stake.
Lore and Rodriguez countered by arguing that they were entitled to a 90-day extension. The matter went to arbitration, where a three-person panel ruled in their favor in a 2-1 decision.
With the ruling secured, Lore and Rodriguez moved forward with their acquisition plans. They had already purchased 36% of the franchise in prior transactions and reportedly secured an additional $950 million in escrow to complete the deal.
The NBA’s Board of Governors will now review the sale, though approval is expected to be a formality. Lore and Rodriguez have been in contact with other team owners to solidify their support.
Taylor’s decision to honor the arbitration ruling marks the end of an era for the Timberwolves. The 83-year-old billionaire has been a key figure in Minnesota sports, owning both the Timberwolves and the WNBA’s Lynx.
While the $1.5 billion price tag was once seen as a strong valuation, the market has since shifted. The Phoenix Suns sold for $4 billion in 2023, and the Dallas Mavericks changed hands for $3.5 billion in 2024.
Despite the ownership turmoil, the Timberwolves have been competitive on the court. At 44-32, they are currently seventh in the Western Conference, pushing for direct playoff qualification.
Anthony Edwards has led the team, while offseason addition Julius Randle has provided another scoring option. The franchise is looking to make a deep playoff run after reaching the Western Conference Finals last season.
The transition in ownership could bring major changes to the organization. Lore and Rodriguez have expressed their desire to modernize team operations, improve facilities, and elevate the franchise’s status in the NBA.
In a statement following the arbitration ruling, Lore and Rodriguez said, “We look forward to working with the NBA to complete the approval process and turn our attention to winning championships in Minnesota.”
Taylor, in contrast, was less enthusiastic. “Becky and I were disappointed by this decision,” he said, adding that he would take time to evaluate his next steps.
