Glen Taylor’s Ownership Battle Ends as Lore and Rodriguez Prepare to Take Over

MINNEAPOLIS, Minn. — In a significant turning point for the Minnesota Timberwolves and WNBA‘s Lynx, Glen Taylor has announced he will not challenge an arbitrator’s ruling that grants investors Marc Lore and Alex Rodriguez a 90-day extension to finalize their $1.5 billion purchase of the teams. This decision clears the path for Lore and Rodriguez to gain approval from the NBA Board of Governors as majority owners.

The ruling marks the culmination of a protracted battle over ownership that began when Taylor sought to nullify the purchase agreement in March 2024, arguing that Lore and Rodriguez failed to meet the required terms. However, a panel ruled 2-1 in favor of the investors.

“Now that we’ve agreed to this, we can focus on moving forward,” said an optimistic Rodriguez. The resolution comes after Taylor returned to the Target Center for games against the Phoenix Suns and Detroit Pistons, marking his first appearance since recovering from hip surgery.

The potential ownership transfer is not just a matter of control; it is also heralded as a fresh opportunity for the teams as they pursue playoff success in the Western Conference. “We want to keep the team in Minnesota, build a new arena, and create a championship team,” Rodriguez added.

The prolonged arbitration process inadvertently gave Lore and Rodriguez time to strengthen their position. They enlisted former New York City Mayor Michael Bloomberg as a minority investor and secured $950 million in an escrow account to ensure financial readiness for the acquisition.

Despite speculations surrounding their financial capabilities, Lore assured, “Financially, I’ve never been in a better place.” His wealth is reportedly bolstered by his food delivery startup, Wonder, which has expanded to 39 storefronts across six states.

As they prepare to take over, Lore and Rodriguez are expected to maintain stability within the team’s management. President of Basketball Operations Tim Connelly, who led the Wolves to the Western Conference Finals last season, may remain as part of their plans. “Keeping him in Minnesota is a top priority,” noted a source close to the new owners.

However, the exact timeline for the Board of Governors’ vote remains uncertain. Lore and Rodriguez need approval from 23 of the 30 current owners. NBA Commissioner Adam Silver indicated the group is well-regarded in the league, having previously served as minority owners. “They’ve been vetted and understood that the league had no role in this arbitration,” Silver stated.

The ownership transition is poised to be a transformative moment for the Timberwolves. Taylor’s stewardship since 1994 helped to stabilize the franchise and foster the Lynx, which secured four WNBA championships. As Taylor prepares to step aside, the teams enter a new chapter with the potential for enhanced investment and a focus on competitive success.

While the league has yet to officially approve Lore and Rodriguez as the new owners, sources suggest a desire from both parties to end the dispute amicably. A fresh era in Minnesota basketball now seems imminent, echoing the need for ownership stability that has been absent during past negotiations.