In a blockbuster $1.5 billion deal, the Minnesota Timberwolves have officially been sold to an investment group led by e-commerce tycoon Marc Lore and former MLB superstar Alex Rodriguez. The NBA's approval of the ownership transfer comes after a complex and lengthy process spanning over four years, culminating in Lore and Rodriguez taking the reins as co-chairmen of the franchise. With a commitment to keeping the teams in Minnesota, the new owners are poised to usher in a new era of excellence and aim to build a winning culture for both the Timberwolves and the WNBA's Minnesota Lynx.
The sale marks the end of an era for outgoing owner Glen Taylor, who saved the Timberwolves from relocation in 1994 and has since guided the team through ups and downs over the past three decades. Lore's background in e-commerce and Rodriguez's success in both baseball and business bring a unique blend of expertise to the table, promising a fresh perspective for the franchise. With ambitions to elevate the Timberwolves to new heights and honor the legacy of the team, Lore and Rodriguez's takeover sets the stage for an exciting chapter in Minnesota basketball history.