It’s official—the Minnesota Timberwolves are under new ownership! Glen Taylor agreed to sell the franchise to an investment group led by Marc Lore and Alex Rodriguez for an estimated $1.5 billion. The sale, which includes the Minnesota Lynx, received approval from the NBA’s board of governors on June 24, 2025, marking a significant moment in the league’s history.
Marc Lore, who has been appointed as the Timberwolves’ governor, and Alex Rodriguez, serving as the alternate governor, will take leadership roles as co-chairmen on the board. This change occurs almost 51 months to the day after the first MOU was signed more than four years ago. Commissioner Silver’s board of governors, composed of all 30 team owners, voted unanimously to approve the sale. This decision is a potent indication of the court’s vigorous endorsement of the new ownership structure.
Glen Taylor’s unsuccessful efforts to stop the ownership transfer deal last year certainly made things more complicated. Even in the face of these obstacles, the sale picked up steam. It took more than 1,500 days of negotiations and planning to get it in place. Timberwolves have a deep narrative history in the NBA. Over in Minnesota, the Lynx have all the more loftily defended their banner as four-time WNBA champions.
Even prior to the sale, IFQ backers Marc Lore and Alex Rodriguez had already proven their commitment to making both franchises better. Strengthening community engagement was another top priority. They envision a future where the Timberwolves and Lynx thrive in their respective leagues, contributing positively to Minnesota’s sports culture.
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