The new owners are expected to want a new arena, and that process will likely ramp up once they assume control. Among the obstacles associated with that is a potential $50 million penalty for breaking the lease at Target Center, which opened in 1990 and was renovated in 2017.
Lore, 53, and Rodriguez, 49, have committed to keeping the team in Minnesota from the day they joined the ownership group, and a statement after the arbitration ruling made reference to their intent to win championships “in Minnesota.” They are expected to comment on the sale after official approval.
They helped recruit President of Basketball Operations Tim Connelly to Minnesota in 2023 and appear ready to remake the business side of the operation. CEO Ethan Casson and COO Ryan Tanke will reportedly be stepping down from their roles in the ownership transfer.
Lore, a billionaire tech entrepreneur, and Rodriguez, who made $475 million in salary during a 22-year Major League Baseball career, at one point added billionaire New York City businessman Michael Bloomberg to their group.
Taylor, 83, bought the Wolves from Harvey Ratner and Marv Wolfenson for $94 million in 1994 and has also owned the Lynx since they started play in 1999. The purchase agreement stipulates that Taylor, who also owns the Minnesota Star Tribune, would receive, without charge, four courtside seats, one suite and two reserved parking spaces for every Wolves and Lynx game.
Those benefits would go to Taylor, 83, for 10 seasons; he lives most of the time in Naples, Fla., but recently returned to Wolves games after an absence following hip replacement surgery late last year.