Marc Lore and Alex Rodriguez Complete $1.5 Billion Acquisition of Minnesota Timberwolves

Marc Lore and Alex Rodriguez have officially completed their acquisition of the Minnesota Timberwolves and Minnesota Lynx, securing majority ownership of both teams in a deal valued at approximately $1.5 billion. The transaction concludes a process that began in 2021 and has now been approved by the NBA following a resolution of disputes with outgoing owner Glen Taylor.

The pair initially entered a phased agreement to acquire the franchises, purchasing a 20% stake in 2021 with a roadmap to full control. The final stage of the deal, involving an additional 40% share, faced delays amid questions over financing and timing. Taylor had expressed concerns over unmet contractual terms but has since confirmed that the issues have been resolved, clearing the way for the transfer of controlling interest.

With this acquisition, Lore and Rodriguez assume operational control of both the NBA and WNBA franchises. The Timberwolves have shown improved performance in recent seasons, reaching the Western Conference playoffs in consecutive years and building around a core of rising stars. The Lynx remain one of the WNBA’s most decorated teams, with a strong legacy and consistent presence in the league’s postseason.

Marc Lore, known for his work in e-commerce and technology, and Alex Rodriguez, a former Major League Baseball player and active investor, become the latest figures to join a growing list of entrepreneurs entering NBA ownership. Their initial investment in the teams was made alongside strategic advisors and financial backers, forming a group that has now assumed full leadership of the organisation.

In a joint statement, Lore and Rodriguez said, “We’re incredibly excited to take this next step as stewards of the Timberwolves and Lynx. We believe in the long-term potential of these franchises and this community, and we’re committed to building a culture of sustained success on and off the court.”

The $1.5 billion valuation reflects the league’s current commercial outlook, with NBA franchises increasingly viewed as stable, appreciating assets. According to recent league figures, team valuations have continued to rise due to a combination of expanding digital initiatives, global reach, and league profitability.

This ownership transition marks the end of Glen Taylor’s nearly three-decade tenure. During his time, Taylor helped keep the franchise in Minneapolis and oversaw both teams’ development across multiple eras. The completion of the sale ensures continuity in local operations while aligning the franchise with broader shifts in the professional sports investment landscape.