NBA approves the sale of Minnesota Timberwolves for $1.5 billion

The National Basketball Association (NBA) authorities approved the sale of the Minnesota Timberwolves in the early hours of Wednesday (Philippine Standard Time), transferring ownership from Glen Taylor to an investment group led by e-commerce entrepreneur Marc Lore and Major League Baseball (MLB) legend Alex Rodriguez.

Notably, Taylor attempted to block the ownership transfer last year, but the deal received a unanimous vote from the NBA’s Board of Governors, with approval by 23 of the league’s 30 owners required for it to pass. This concludes a transaction that was initially agreed upon in 2021.

The deal closes nearly 51 months—more than 1,500 days—after the original agreement. The sale also includes the Women’s National Basketball Association (WNBA) team, the Minnesota Lynx.

The NBA Board of Governors has unanimously approved the sale of the controlling interests in the Minnesota Timberwolves and the WNBA’s Minnesota Lynx from Glen Taylor to Marc Lore and Alex Rodriguez. pic.twitter.com/dM5Se1l6ye

— NBA Communications (@NBAPR) June 24, 2025

The Timberwolves are set to introduce Lore and Rodriguez in a press conference next month in Las Vegas. As it stands, Lore and Rodriguez will serve as co-chairmen of the board, with Lore acting as Timberwolves governor and Rodriguez as the alternate governor. Conversely, Rodriguez will serve as governor of the Lynx, with Lore as the alternate.

“We fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises. We are committed to building an organization that sets the standard for excellence, is universally admired, and rooted in pride that spans generations,” Lore said in a statement.

“I have dedicated my entire life to the world of sports—not just as a game, but as a powerful force that unites people, uplifts communities, and changes lives. I’m incredibly honored and energized to roll up my sleeves and get to work. 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,” Rodriguez added.

Since the initial sale agreement in April 2021, the valuation of the Timberwolves has more than doubled to $3.1 billion, according to Forbes. Sportico’s most recent calculations peg the value of the franchise at $3.29 billion.

The Timberwolves have reached the playoffs in each of the past four seasons, and the new owners plan to build upon that success, led by star guard Anthony Edwards.

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