Wolves sale approved, as Taylor sends 20% to Lore, Rodriguez

7-22-21

MINNEAPOLIS (AP) — The first increment of the $1.5 billion sale of the Minnesota Timberwolves to e-commerce mogul Marc Lore and former baseball star Alex Rodriguez has been approved by the NBA. Timberwolves owner Glen Taylor issued a statement confirming the transaction and welcoming Lore and Rodriguez to the organization. The deal includes the WNBA team Minnesota Lynx. It was structured to begin with an initial transfer of 20% of the club this year. Lore and Rodriguez will then have the right to purchase an additional 20% share in 2022 and an additional 40% share in 2023, when they would become controlling owners.