Marc Lore, Alex Rodriguez Reportedly Agree to Take Over T-Wolves Ownership from Taylor

Minnesota Timberwolves owner Glen Taylor has reportedly agreed to complete the sale of the franchise to an ownership group led by Marc Lore and Major League Baseball legend Alex Rodriguez.
According to ESPN's Shams Charania, Taylor has decided against appealing the ruling handed down by an arbitrator in February, paving the way for Lore and Rodriguez to take over as owners.
Per Charania, Lore and Rodriguez will buy 100 percent of the Timberwolves at the $1.5 billion price the two sides agreed to back in 2021.
Taylor announced in March 2024 that he would no longer sell the T-Wolves to Lore and Rodriguez, alleging that they "failed to meet certain contractual deadlines and obligations of the sale process," according to ESPN's Ramona Shelburne and Adrian Wojnarowski.
However, arbitrators ruled in favor of Lore and Rodriguez in February, paving the way for them to become the new owners.
At the time of Taylor's announcement last year that he would no longer be selling the Timberwolves, Rodriguez and Lore released a joint statement challenging Taylor's assertion that they failed to meet deadlines:
"We are disappointed with Glen Taylor's public statement today. We have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process.
"Glen Taylor's statement is an unfortunate case of seller's remorse that is shortsighted and disruptive to the team and the fans during a historic winning season."
The sale price of $1.5 billion is a bargain compared to what NBA franchises have sold for since Taylor first reached an agreement with Lore and Rodriguez in 2021.
Most recently, the Boston Celtics were sold to a group led by Bill Chisholm for $6.1 billion last month, which is the highest-ever sale price for a North American sports franchise.
Before that, the record sale price for an NBA franchise was $4 billion for the Phoenix Suns.
The Timberwolves entered the NBA as an expansion franchise in 1989. While they have yet to win a championship or even reach the NBA Finals, they have experienced some recent success.
Minnesota has reached the playoffs in three consecutive seasons, including a trip to the Western Conference Finals last season.
At 44-32, this season has been somewhat disappointing for the T-Wolves. But they are tied with the Memphis Grizzlies for the No. 6 seed in the Western Conference, and they can avoid having to go through the postseason play-in tournament if they surpass Memphis.
Led by superstar Anthony Edwards and reigning Defensive Player of the Year Rudy Gobert, the Timberwolves have a chance to do some damage come playoff time.
As a 14-time All-Star, three-time American League MVP and one-time World Series champion during his 22-year MLB career with the Seattle Mariners, Texas Rangers and New York Yankees, A-Rod brings plenty of winning experience to the ownership group of the T-Wolves as well.