Top Ad
I DIG Radio
www.idigradio.com
Listen live to the best music from around the world!
I DIG Style
www.idigstyle.com
Learn about the latest fashion styles and more...

A-Rod, Lore to own Timberwolves after standoff

Written by 
Published in Basketball
Wednesday, 02 April 2025 13:45

Glen Taylor has agreed to the Marc Lore-Alex Rodriguez group acquiring 100% ownership of the Minnesota Timberwolves and Minnesota Lynx at the same $1.5 billion price the sides reached agreement on in 2021, sources told ESPN.

As part of the agreement, Taylor decided not to appeal an arbitrators' ruling from February that ruled in favor Lore-Rodriguez in a dispute over the sale contract.

The NBA has started the transfer process, including ultimately holding a board of governors vote, sources said.

Lore and Rodriguez initially agreed to purchase the team from Taylor in 2021 in a three-part sale. The first two tranches, totaling 36% of the teams, changed hands for about $500 million as planned. But in March 2024, Taylor called off the sale when he believed Lore and Rodriguez breached terms of the sale agreement and missed a deadline to finalize the deal.

There was a disagreement, and the issue eventually went to arbitration, where Lore and Rodriguez prevailed in a split decision among a three-judge panel.

In the meantime, Lore and Rodriguez shored up their group by adding partners, including billionaire former New York Mayor Michael Bloomberg, billionaire former Google executive Eric Schmidt, and Blue Owl Capital, an NBA-approved private equity fund. The group raised an additional $950 million and put it in escrow to demonstrate that it was prepared to execute the transaction.

Over the past six weeks, the Lore-Rodriguez group and Taylor held discussions and came to an agreement to finalize the deal.

Taylor, 83, purchased the Wolves in 1994 for $94 million, saving the team from a possible relocation to New Orleans. He had put the team on the market and pulled it off several times over the past two decades.

Read 11 times

Soccer

Arsenal CB Gabriel's season over, surgery due

Arsenal CB Gabriel's season over, surgery due

EmailPrintOpen Extended ReactionsArsenal defender Gabriel Magalhães will requires surgery on his ham...

Barça win appeal, Olmo, Víctor cleared to play

Barça win appeal, Olmo, Víctor cleared to play

EmailPrintOpen Extended ReactionsSpain's sports ministry (CSD) have ruled that Dani Olmo and Pau Víc...

PGMOL: Tarkowski deserved red against Liverpool

PGMOL: Tarkowski deserved red against Liverpool

EmailPrintOpen Extended ReactionsPGMOL has admitted that Everton defender James Tarkowski should hav...

2026 FIFA


2028 LOS ANGELES OLYMPIC

UEFA

2024 PARIS OLYMPIC


Basketball

'Everybody has to run their own race': Will Thibs' strategy doom the minutes-heavy Knicks?

'Everybody has to run their own race': Will Thibs' strategy doom the minutes-heavy Knicks?

EmailPrintOpen Extended ReactionsBACK IN 2017, coming off a frustrating season in which his young Mi...

AD clears 'mental hurdle,' keys Mavs' win late

AD clears 'mental hurdle,' keys Mavs' win late

EmailPrintOpen Extended ReactionsDALLAS -- Anthony Davis capped his most complete performance in a D...

Baseball

Power Rankings: Who are the top teams one week into the season?

Power Rankings: Who are the top teams one week into the season?

EmailPrintOpen Extended ReactionsWe're just one week into the 2025 MLB season -- and what a ride it...

'In what world does that make sense?' MLB players weigh in on top 100

'In what world does that make sense?' MLB players weigh in on top 100

EmailPrintOpen Extended ReactionsMost of the MLB players given a preview of our Top 100 player ranki...

Sports Leagues

  • FIFA

    Fédération Internationale de Football Association
  • NBA

    National Basketball Association
  • ATP

    Association of Tennis Professionals
  • MLB

    Major League Baseball
  • ITTF

    International Table Tennis Federation
  • NFL

    Nactional Football Leagues
  • FISB

    Federation Internationale de Speedball

About Us

I Dig® is a leading global brand that makes it more enjoyable to surf the internet, conduct transactions and access, share, and create information.  Today I Dig® attracts millions of users every month.r

 

Phone: (800) 737. 6040
Fax: (800) 825 5558
Website: www.idig.com
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Affiliated