NBA owners unanimously approved the sale, finalizing the transfer of ownership from Glen Taylor to Marc Lore and Alex Rodriguez.
The $1.5 billion deal includes both the Minnesota Timberwolves and the Minnesota Lynx.
Lore and Rodriguez have committed to keeping both teams in Minnesota.
The new ownership is planning improvements to the fan experience and considering building a new arena in the future.
Glen Taylor and his wife, Becky, published a farewell message, expressing their love for the organization and community.
After a protracted and sometimes contentious process, the NBA's Board of Governors has greenlit the sale of the Minnesota Timberwolves and Lynx to Marc Lore and Alex Rodriguez. This marks a significant transition for the franchise, which has been under Glen Taylor's ownership since 1994.
Lore and Rodriguez aim to enhance the fan experience at Target Center and have expressed long-term ambitions to construct a new, state-of-the-art arena. Their commitment to keeping the teams in Minnesota addresses concerns raised by fans when the agreement was initially made.
The new owners have been actively involved in key decisions, including the recruitment of President of Basketball Operations Tim Connelly, and are focused on sustaining a winning culture. They inherit a Lynx team that is a WNBA powerhouse and a Timberwolves team on the rise, having reached the Western Conference Finals.
Q: Will the Timberwolves and Lynx stay in Minnesota?
Yes, Marc Lore and Alex Rodriguez have repeatedly affirmed their commitment to keeping both teams in Minnesota.
Q: What are the new owners planning to change?
Initially, Lore and Rodriguez plan to improve the fan experience at Target Center and eventually aim to build a new arena.
Q: Who are the key figures in the new ownership group?
Marc Lore and Alex Rodriguez are the primary owners, with support from limited partners including former Google CEO Eric Schmidt and former New York City Mayor Michael Bloomberg.
The Minnesota Timberwolves and Lynx have new owners: Marc Lore and Alex Rodriguez.
Both teams will remain in Minnesota, ensuring continuity for fans.
Expect improvements to the game-day experience and potential plans for a new arena.
The new ownership is committed to building a sustainable winning culture for both franchises.
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