Rodriguez, Lore Ownership Deal Nears Completion

The ownership transition of the Minnesota Timberwolves and the WNBA's Lynx from Glen Taylor to Marc Lore and Alex Rodriguez is nearing completion, pending NBA board approval. After a protracted legal dispute, Taylor has decided not to appeal an arbitration ruling in favor of Lore and Rodriguez, who will acquire the teams for $1.5 billion, a deal originally agreed upon in 2021. The arbitration panel confirmed that Lore and Rodriguez had the right to an extension to finalize their purchase due to delays in NBA approval, a decision Taylor initially resisted. The structured purchase agreement allowed Lore and Rodriguez to gradually assume control, but disagreements arose when Taylor accused them of missing payment deadlines. The NBA board of governors is expected to proceed with the final approval process, which is typically a formality, allowing Lore and Rodriguez to officially take ownership. This transaction concludes a contentious period marked by accusations of seller's remorse and financial disagreements.