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MINNEAPOLIS — The NBA Board of Governors unanimously approved this Tuesday the sale of the Minnesota Timberwolves and the Minnesota Lynx to the investment group led by former baseball player Alex Rodríguez and tech entrepreneur Marc Lore, in a transaction valued at $1.5 billion.
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The vote concludes a process that has spanned more than four years since outgoing owner Glen Taylor initially agreed to the sale in 2021. Despite Taylor's attempt to halt the operation last year, alleging contractual breaches, the league ultimately validated the transfer, which will be completed this week. The acquiring group will assume full control of both franchises, including the four-time WNBA champions, Minnesota Lynx. Lore will be the primary governor of the Timberwolves and Rodríguez will hold the role of alternate governor. In the case of the Lynx, the roles are reversed, with Rodríguez as the titular governor. “We are honored by this opportunity. We know the responsibility it entails and will work tirelessly to build an exemplary organization, admired and with solid roots in Minnesota”, said Marc Lore in a statement. For his part, Alex Rodríguez, excited about his new role, stated: "I have lived my whole life in sports and I know what it takes to achieve excellence. I am ready to work with passion and commitment to create a winning culture that inspires generations". Both entrepreneurs, who met in 2020 during the pandemic in virtual meetings, have reaffirmed their intention to keep the franchises in Minnesota, strengthening their bond with the community and betting on local development. The official presentation of Rodríguez and Lore as the new owners will take place in July in Las Vegas, within the framework of the NBA Summer League. This historic approval marks a new era for the Timberwolves, who are coming off one of their best recent seasons, and projects high expectations both on the sports and institutional level under the leadership of their new owners.
