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Glen Taylor agrees to sale of Timberwolves to Rodriguez and Lore

Glen Taylor agreed to sell 100% ownership of the Minnesota Timberwolves and Lynx to the Lore-Rodriguez group on April 2, 2025.
A previous agreement reached in 2021 faced disputes, leading to arbitration over breached terms and missed deadlines.
Lore and Rodriguez added partners like Michael Bloomberg and Eric Schmidt, securing $950 million in escrow to finalize the transaction.
The acquisition price remained $1.5 billion, the same price agreed upon in 2021; NBA Commissioner Adam Silver stated, "We need to follow the process."
Taylor's decision not to appeal the ruling means the NBA will proceed with the transfer, pending Board of Governors approval, ending his 31-year ownership.

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Fortune

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Inside serial entrepreneur Marc Lore's fundraising playbook

Marc Lore is many things, as I wrote in this deep and revealing profile of him for Fortune’s latest print issue. He’s a serial entrepreneur—having cofounded Diapers.com, Jet.com, and Wonder—who channeled a traumatic childhood into insatiable ambition. He’s a founder who has sold two of those startups to Amazon and Walmart for nearly $4 billion combined, but still believes he has so much left to prove. And he’s a big thinker with a knack for purs…

10 hours ago·New York, United States

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Dispatch Argus

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Timberwolves sale will move forward

The years long quest by Marc Lore and Alex Rodriguez to acquire control of the Minnesota Timberwolves seems to finally be in the home stretch, after current owner Glen Taylor opted not to appeal an arbitration panel's ruling that he…

11 hours ago

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Roanoke Times

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AP Source: Timberwolves sale to Rodriguez, Lore will go forward

NBA

11 hours ago

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WABC

+7 Reposted by 7 other sources

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Marc Lore and Alex Rodriguez to take full ownership of Minnesota Timberwolves after dispute with Glen Taylor

Glen Taylor has agreed to a resolution with the Marc Lore-Alex Rodriguez group regarding their dispute over ownership of the Minnesota Timberwolves. Lore and Rodriguez are acquiring 100% ownership of the Minnesota Timberwolves and Minnesota Lynx at the same $1.5 billion price tag the sides reached in 2021. As part of the agreement, Taylor decided not to appeal an arbitrators’ ruling from February that ruled in favor Lore-Rodriguez in a dispute o…

12 hours ago

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Santa New Mexican

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Timberwolves sale to Alex Rodriguez and Marc Lore will go forward, source says

The yearslong quest by Marc Lore and Alex Rodriguez to acquire control of the Minnesota Timberwolves seems to finally be in the home stretch, after current owner Glen Taylor opted not to appeal an arbitration panel’s ruling that he must…

17 hours ago

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Austin Daily Herald

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Timberwolves sale to Alex Rodriguez and Marc Lore will go forward, AP source says - Austin Daily Herald

The yearslong quest by Marc Lore and Alex Rodriguez to acquire control of the Minnesota Timberwolves finally seems to be in the home stretch, after current owner Glen Taylor opted not to appeal an arbitration panel’s ruling that he must go forward with the $1.5 billion sale. A person with knowledge of Taylor’s decision confirmed it to The Associated Press on Wednesday, speaking on condition of anonymity because the Timberwolves had not offered a…

19 hours ago

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