The sale was made to billionaire entrepreneur Marc Lore and former MLB star Alex Rodriguez, officially ending Glen Taylor’s 31-year tenure as owner and ushering in a new era for professional basketball in Minnesota.

End of an Era, Start of a New Chapter

The approval, announced Tuesday, concludes a process that began more than four years ago and was at times marked by legal disputes and arbitration. Taylor, who bought the Timberwolves in 1994 for $94 million, agreed in 2021 to sell the franchises to Lore and Rodriguez in a series of payments.

However, Taylor later attempted to halt the sale, citing missed deadlines for payments by the buyers—a claim that led to arbitration. In February, a panel ruled in favor of Lore and Rodriguez, clearing the way for the deal to proceed.

Lore and Rodriguez, who had already acquired minority stakes in previous years, will now assume full leadership responsibilities. Lore will serve as the Timberwolves’ governor and Lynx alternate governor, while Rodriguez will act as the Lynx governor and Timberwolves alternate governor. Both will serve as co-chairmen and are set to be formally introduced during the NBA Summer League next month.

Vision for the Future

In statements following the league’s approval, both new owners expressed their commitment to building a culture of excellence and community engagement.

“We are honored to lead the Timberwolves and Lynx into a bold and exciting new era,” Lore said, emphasizing the responsibility of stewarding two major sports franchises. Rodriguez echoed the sentiment, stating, “I know what it takes to be a champion, and I’m ready to bring that same commitment and drive to create a winning culture in Minnesota.”

The sale also includes the G League’s Iowa Wolves, further consolidating the ownership group’s influence across all levels of Minnesota basketball.

Glen Taylor’s Farewell

Taylor, now 84, leaves behind a legacy of keeping the Timberwolves in Minnesota despite opportunities to relocate the team. In a farewell letter, he and his wife Becky thanked fans and reaffirmed their ongoing support for the organization: “We will always be fans, cheering from our seats, celebrating your triumphs, and believing in what comes next. It has been the honor of our lives.” 

With the transaction expected to close later this week, Minnesota basketball enters a new chapter—one shaped by Lore and Rodriguez’s ambition to set a new standard for both the Timberwolves and Lynx, on and off the court.