The NBA Board of Governors unanimously approved the majority sale of the Timberwolves and Lynx to Marc Lore and Alex Rodriguez on Tuesday.
The sale is expected to be finalized this week, the NBA announced.
Longtime owners Glen and Becky Taylor issued a public farewell on Monday, and staff moves are already in swing with executives such as chief executive officer Ethan Casson and chief operating officer Ryan Tanke announcing their departures.
Lore and Rodriguez announced that Lore will serve as Governor of the Timberwolves, with Rodriguez operating in an alternate capacity. The roles will be reversed for the Lynx.
Lore and Rodriguez first entered into a purchase agreement with Glen Taylor four years ago. Since then, they’ve had their fingerprints all over the organization, from the hiring of president of basketball operations Tim Connelly to cosmetic changes throughout Target Center.
Now, after a tumultuous sale process that went through arbitration after Taylor attempted to retain control, Lore and Rodriguez officially have the reins.
“We are honored to lead the Timberwolves and Lynx into a bold and exciting new era,” Lore said in a statement. “Today marks a momentous milestone for us, and we fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises. We are committed to building an organization that sets the standard for excellence, is universally admired, and rooted in pride that spans generations.”
Rodriguez, who had an illustrious pro baseball career, noted that his has “dedicated my entire life to the world of sports.”
“Not just as a game, but as a powerful force that unites people, uplifts communities, and changes lives,” Rodriguez said in a statement. “I’m incredibly honored and energized to roll up my sleeves and get to work. I know what it takes to be a champion, and I’m ready to bring that same commitment and drive to create a winning culture in Minnesota.”
The new majority owners are expected to pursue various options for future arena accommodations for the organization, which has rented Target Center for the past 35 years. This summer, Lore and Rodriguez will oversee an offseason in which Connelly and Co. will walk the line of attempting to improve the Timberwolves’ roster amid its current championship chase while not compiling an astronomic luxury tax bill that could hamper the franchise’s team building for years to come.
Step 1 in that process is Wednesday’s NBA Draft — fittingly, another new beginning.
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