Marc Lore and Alex Rodriguez have won the arbitration case against Glen Taylor, allowing them to move forward with their purchase of the Timberwolves/Lynx
On Monday, it was announced that Marc Lore and Alex Rodriguez won the arbitration case, allowing them to proceed with their purchase of the Minnesota Timberwolves and Lynx from long-time owner Glen Taylor.
Nearly a year after Taylor announced that the team was no longer for sale, Lore and Rodriguez finally have a resolution to the dispute. The arbitration panel determined they never breached the terms of their agreement, making Taylor not within his right to renege on the team’s sale.
Just in: Arbitrators have ruled Marc Lore and Alex Rodriguez over Glen Taylor as the next majority ownership group of the Minnesota Timberwolves, Lore and Rodriguez told ESPN. The NBA’s Board of Governors now have to approve Lore and Rodriguez. pic.twitter.com/qpF3BW3J7B
— Shams Charania (@ShamsCharania) February 10, 2025
It has been an incredibly long journey getting to this point. Back in July 2020, it was reported that Taylor was exploring the sale of both the Timberwolves and Lynx, two franchises he has owned since 1994 and 1999 respectively.
In May 2021, Taylor came to an agreement with Lore and Rodriguez to purchase the Wolves and Lynx for $1.5 billion. The deal was a bit of an unusual one as the controlling stake in the team did not transfer immediately. Instead, Lore and Rodriguez would buy the team over about three-year period, purchasing minority percentages of the team until taking full ownership.
Lore and Rodriguez were able to buy the first two tranches without much drama, giving them a 36 percent stake in the team. They were set to buy another 40 percent, giving them a controlling share, in March 2024 before Taylor pulled the rug out from under them during the Wolves’ most successful season in 20 years.
It was Taylor’s assertion that Lore and Rodriguez had violated the terms of their agreement, giving him the contractual ability to back out from the deal. Lore and Rodriguez, on the other hand, believed that they had successfully fulfilled each requirement in their contract and were
The three-person arbitration panel, made up of an appointee from both Taylor and Lore/Rodriguez and a third neutral arbiter chosen by the two appointees, decided that Lore and Rodriguez had not violated the contract, meaning Taylor was unable to back out from the previously agreed terms.
With the arbitration now in the past, Lore and Rodriguez’s hopes of purchasing the Timberwolves and Lynx now lie with the NBA Board of Governors, who will vote on whether or not to allow them to gain control of the franchise. This vote is unlikely to be an issue for Lore and Rodriguez according to those familiar with the proceedings.
Lore and Rodriguez released a statement about the arbitration ruling.
“We are extremely pleased with today’s decision. We look forward to working with the NBA to complete the approval process and close this transaction so that we can turn our attention to winning championships in Minnesota for our incredible fans and the Twin Cities community.”
Glen, along with his wife Becky Taylor, released a statement of their own saying about the panel’s ruling.
“Becky and I were disappointed by this 2-1 decision from this panel. We will review the decision thoroughly prior to making any further comment. We would like to express our sincere appreciation to the Timberwolves and Lynx players, staff, and loyal fans for their support.”
Assuming the Board of Governors approves the sale of the team, Lore and his co-owners of Rodriguez and Michael Bloomberg, who was added to the ownership group last June to buy out Taylor’s remaining 24 percent ownership piece in the team, will take control of the team ahead of a critical 2025 offseason.
Lore and Rodriguez have remained confident throughout that if they won in arbitration that the approval process with the league would be a smooth one. When that vote comes is not immediately known
— Jon Krawczynski (@JonKrawczynski) February 10, 2025
Only time will tell if this entire saga will benefit or hinder the Timberwolves and Lynx franchises, but most Wolves and Lynx fans seem ready for a fresh start with new leaders at the top and are especially glad to have the black cloud that was this ownership dispute in the rearview.