The NBA finally approved the Timberwolves change of ownership

NBA officially approved the sale transaction of the Timberwolves and the WNBA Bobcats!

After more than four years of legal disputes, arbitration tug-of-war and financial game, Timberwolves owner Glenn Taylor eventually sold 100% of the team's equity to an investment group led by e-commerce giant Mark Lore and former MLB superstar Alex Rodriguez for $1.5 billion. After the league board of directors passed unanimously, the deal is expected to be completed this week, marking the final settlement of the most tortuous team change case in NBA history.

The deal dates as early as May 2021, when Taylor reached a preliminary agreement with Lore and Rodriguez to sell the Timberwolves and the Bobcats for $1.5 billion. However, Taylor unilaterally announced the cancellation of the transaction in March 2024 and accused Lore and Rodriguez of defaulting on contract. The two parties then fell into a legal dispute. Finally, in February 2025, the arbitration team ruled that Lore and Rodriguez won the case and Taylor was forced to fulfill the original agreement.

"We can finally open a new chapter," Lore said in an official statement. "We will be committed to building a team that will make Minnesota proud." Rodriguez emphasized: "Sports are not only a game, but also a gathering of the strength of the community. We will do our best."

New boss background: E-commerce tycoon + baseball legend

Mark Lore (net worth 2.9 billion US dollars): a giant in the e-commerce industry, has founded several companies and was acquired by Walmart and Amazon, and is currently the CEO of Wonder.

Alex Rodriguez (A-Rod): MLB legendary star, scored 696 home runs in his career, but missed the Hall of Fame due to the doping scandal; after retirement, he transformed into a commercial investment, with a net worth of over $450 million.

The two will serve as the chairman of the joint board of the Timberwolves and Bobcats respectively, with Lor as the Timberwolves director and Rodriguez as the alternate director; the Bobcats will be the director and Rodriguez as the director and Lore as the alternate director.

Trading impact: Where will the Timberwolves go in the future?

Team Residence in Minnesota: The new boss promises not to relocate the team and plans to build a new arena to replace the old target center.

Garnett's jersey retirement is expected: Taylor and Timberwolves legend Kevin Garnett have a long-term dispute, resulting in the latter's jersey retirement. The new management may promote this.

Market value controversy: Although the Timberwolves' valuation has reached US$3.1 billion in 2025, due to the lock-in of the 2021 agreement, Taylor only sold it for 1.5 billion, which is considered by the outside world to "a big loss."

Timberwolves plan to hold a franchise conference for Lore and Rodriguez during the Las Vegas Summer League in July to officially introduce the new boss to fans around the world.

Buy from 94 million to 1.5 billion, and Taylor's 30-year Timberwolves era officially ended. Can the combination of Lore and Rodriguez lead this team to compete for the first championship in the history of the team? Everything has just begun!