Rodriguez, Lore to acquire Timberwolves’ majority stake

Marc Lore and Alex Rodriguez will soon exercise their option to acquire controlling ownership interest of the National Basketball League’s Minnesota Timberwolves and WNBA’s Lynx as of today.

ESPN Sources: Marc Lore and Alex Rodriguez are expected to exercise their option to acquire controlling ownership interest of the Minnesota Timberwolves and Lynx from Glen Taylor as soon as today. They have a Dec. 31 deadline. pic.twitter.com/qCYnBZJ0pG

— Adrian Wojnarowski (@wojespn) December 28, 2023

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Both owners, who have until the end of the year, will be formalizing an intent to purchase a final 40% of the basketball teams from Glen Taylor — giving Lore and Rodriguez 80% ownership in both organizations at the beginning of the next year.

Marc and Alex still have enough time to secure enough finances to acquire the stake, subject to the league’s board of governors’ approval.

Minnesota is enjoying a phenomenal start as that’s their best campaign in history – 22-7- are the top seed in the West Conference. The NBA team appointed Nuggets general manager Tim Connelly as president, and his trades for Rudy Gobert and Mike Conley made the franchise successful.