Entrepreneur Marc Lore and legendary baseball player Alex Rodriguez are one step closer to becoming the majority owners of the Minnesota Timberwolves and the Minnesota Lynx.
According to ESPN's Shams Charania, arbitrators ruled on Monday in favor of Lore and Rodriguez over Glen Taylor, who purchased the team in 1994.
Taylor originally agreed to sell the teams to Lore and Rodriguez back in 2021 for $1.5 billion. After claiming the deadline for final payment had been missed, however, he tried to take the teams off the market.
Just in: Arbitrators have ruled Marc Lore and Alex Rodriguez over Glen Taylor as the next majority ownership group of the Minnesota Timberwolves, Lore and Rodriguez told ESPN. The NBA’s Board of Governors now have to approve Lore and Rodriguez. pic.twitter.com/qpF3BW3J7B
— Shams Charania (@ShamsCharania) February 10, 2025
Both sides lawyered up and went to arbitration, and on Monday a three-person panel ruled in favor of Lore and Rodriguez. The group now has a 90-day window to finish paying Taylor for control of both franchises. They'll also need to be approved by the NBA's Board of Governors.
"We are extremely pleased with today's decision," Lore and Rodriguez said in a statement to ESPN. "We look forward to working with the NBA to complete the approval process and close this transaction so that we can turn our attention to winning championships in Minnesota for our incredible fans and the Twin Cities community."
“Becky and I were disappointed by this 2-1 decision from the panel," said Taylor. "We will review the decision thoroughly prior to making any further comment. We would like to express our sincere appreciation to Timberwolves and Lynx players, staff, and loyal fans for their support.”
The 30-23 Timberwolves are in Cleveland on Monday night for a 7:00 p.m. tip-off against the Cavaliers. The Lynx finished their 2024 season 30-10 before losing to the New York Liberty in the WNBA Finals.
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This article was originally published on www.si.com as Alex Rodriguez, Mark Lore Win Arbitration Battle in Ongoing Saga of Timberwolves Sale.
