Glen Taylor says he'll continue to own Timberwolves
MINNEAPOLIS (FOX 9) - After a lengthy legal dispute until a sale became final, the Minnesota Timberwolves will be under new ownership next season as the NBA Board of Governors says it has unanimously approved the sale of controlling interests from Glen Taylor to Marc Lore and Alex Rodriguez.
Minnesota Timberwolves sale approved
What we know:
Taylor bought the Timberwolves in 1994 for $94 million, and despite having the chance, never moved the team from Minnesota.
In 2021, Taylor agreed to sell the franchise for $1.5 billion in a series of payments to Lore and Rodriguez – the final of which he tried to dispute as missing a deadline, before losing in arbitration.
What's next:
An announcement of the vote says that Lore and Rodriguez will serve as co-chairmen, with Lore assuming the role of Timberwolves governor and Rodriguez as alternate governor. For the Lynx, the roles will reverse.
On Monday, Taylor penned a "goodbye" letter to fans.
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