Alex Rodriguez, along with Marc Lore, currently owns a minority stake in the Minnesota Timberwolves and Lynx. They acquired 40% ownership in 2022 and 2023. Their goal is to gain full control of the franchises from majority owner Glen Taylor. They have $940 million ready to finalize the $1.5 billion purchase agreement made three years prior.
The sale has been stalled due to a dispute over the final payment deadline. Taylor claims Lore and Rodriguez missed the deadline, while the prospective buyers state they were delayed by the NBA’s approval process. This disagreement has led to an arbitration hearing scheduled for November 4th.
Following the hearing, the NBA Board of Governors must approve the sale. Twenty-three of the league’s owners need to vote in favor of the transaction for it to be finalized. Should the sale be approved, Rodriguez and Lore, along with recently added investor Michael Bloomberg, will become the official owners of the Timberwolves and Lynx.
