US EditionNBA Owners Unanimously Approve $1.5B Sale of Wolves, WNBA's Lynx From Taylor to Lore-Rodriguez Group
- On Tuesday, the NBA officially approved the $1.5 billion purchase of the Minnesota Timberwolves and Lynx, transferring ownership from Glen Taylor to Marc Lore and Alex Rodriguez.
- This sale followed a 2021 agreement between Taylor and the buyers, which faced delays and a months-long dispute resolved by an arbitration ruling in February requiring Taylor to proceed.
- Taylor, who bought the Timberwolves in 1994 to prevent relocation and introduced the Lynx in 1998, released a farewell statement expressing gratitude and pride in his 30 years of ownership.
- Lore and Rodriguez stated they are honored and energized to lead the teams into a new era, committing to build an organization admired for excellence and rooted in generational pride.
- The sale is anticipated to be finalized later this week, marking a major shift in ownership and reinforcing ongoing investment in Minnesota's professional basketball teams.
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NBA owners unanimously approve $1.5B sale of Wolves, WNBA's Lynx from Taylor to Lore-Rodriguez group
MINNEAPOLIS (AP) — The $1.5 billion sale of the Minnesota Timberwolves from Glen Taylor to an investment group led by e-commerce entrepreneur Marc Lore and former baseball star Alex Rodriguez gained NBA approval on Tuesday, finalizing a complex and contentious process more than four years after the deal was reached. The ownership transfer that Taylor tried to stop last year received an unanimous vote from the league’s board of governors that com…
·Albuquerque, United States
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