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Ex-MLB star Alex Rodriguez, owner group finalize complex Lynx, Timberwolves sale
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- Ex-MLB star Alex Rodriguez, owner group finalize complex Lynx, Timberwolves sale
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The post Ex-MLB star Alex Rodriguez, owner group finalize complex Lynx, Timberwolves sale appeared first on ClutchPoints .
In April, former MLB player Alex Rodriguez finalized a deal to become part owner of the Minnesota Timberwolves and Minnesota Lynx .
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On Wednesday, the sale of both organizations from Glen Taylor was officially approved by NBA governors, per ESPN. In all, it was the culmination of a process that was four years in the making.
Overall, the sale was worth $1.5 billion. Rodriguez, in partnership with e-commerce aficionado Marc Lore, will serve as co-chairman of the board. Lore will serve as the governor of the Timberwolves, and Rodriguez will be the alternate governor.
Conversely, Rodriguez will be the governor of the Lynx, and Lore will be the alternate governor.
"We fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises," Lore said in a statement.
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In addition, Lore emphasized his expectations and plans for the future.
"We are committed to building an organization that sets the standard for excellence, is universally admired, and rooted in pride that spans generations."
Furthermore, Rodriguez offered his statement.
"I've dedicated my entire life to the world of sports, not just as a game, but as a powerful force that unites people, uplifts communities, and changes lives," he said.
Subsequently, he made a bold declaration about his intentions going forward.
"I'm incredibly honored and energized to roll up my sleeves and get to work. I know what it takes to be a champion, and I'm ready to bring that same commitment and drive to create a winning culture in Minnesota," he said.
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An introductory press conference will be held during the NBA Summer League in Las Vegas in July.
The journey to become owner of the Lynx and Wolves
In 2021, Rodriguez joined forces with Lore to purchase the teams from Taylor. The deal allowed for incremental payments as well as for Taylor to maintain ownership until the deal was done.
Along the way, Rodriguez and Lore encountered some hurdles. In March 2024, Taylor attempted to cancel the sale , leaving Rodriguez and Lore in the lurch. They ended up missing the payment deadline.
As a result, they declared for arbitration. Ultimately, Rodriguez and Lore were granted arbitration in February.
Related: Lynx star Napheesa Collier gets final injury status for Mystics game
