More than a year after Glen Taylor tried to retain majority control of the Timberwolves and Lynx by canceling the sale of the clubs to Marc Lore and Alex Rodriguez, Taylor is ending that battle, paving the way for Lore and Rodriguez to become controlling owners
A source confirmed Taylor will not appeal a 2-1 February arbitration ruling in favor of Lore and Rodriguez, who the panel ruled were within their rights to seek a continuance of the sale when Taylor attempted to call it off in March 2024.
The sale of both teams will now go to the NBA for approval, with Lore and Rodriguez set to get 100% control of them at the $1.5 billion price tag the sides agreed to in 2021.
Lore and Rodriguez currently own about 40% of the franchises after completing two separate purchases in 2021 and 2023.
Lore and Rodriguez have maintained a commitment to keeping the team in Minnesota from the day they joined the ownership group. Their statement after the arbitration ruling made sure to reference their efforts to win championships “in Minnesota.” Over the past four years, there has been no indication that Lore or Rodriguez has been plotting to move the team.
As for Taylor, the 83-year-old will have the option to remain a presence at Wolves and Lynx games. The purchase agreement stipulated that Taylor, who also owns the Minnesota Star Tribune, would receive, without charge, four courtside sets, one suite and two reserved parking spaces for every home regular season and playoff game for both teams.
Those benefits would go to Taylor, or his heirs, for the remainder of Taylor’s life or 10 complete seasons. Taylor recently returned to Wolves games after an absence following hip replacement surgery late last year.