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Lore, A-Rod Re-Up on Threat to Privately Fund New Timberwolves Arena
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- Lore, A-Rod Re-Up on Threat to Privately Fund New Timberwolves Arena
Brad Rempel-Imagn Images
Today, right before the start of the 2025 NBA Draft, ownership of the Minnesota Timberwolves organization will officially change hands from 31-year majority owner, Glen Taylor, to Marc Lore and Alex Rodriguez.
On the floor and within the front office, little will change, in terms of vision. President of basketball operations Tim Connelly was brought in by Lore and A-Rod three offseasons ago. Tim's contract is up and needs extended, something that is expected to take place very soon.
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Most noticeable changes will happen on the business side, where the new owners have big plans and even bigger dreams. At the top of their priority list is bringing a new NBA arena to the Twin Cities area, preferably in downtown Minneapolis.
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Lore, A-Rod determined to build new Minnesota Timberwolves arena
But it's not just a new arena the new owners covet. According to Chris Hine (Star Tribune) , who recently sat down with the Minnesota Timberwolves' new owners, Lore and A-Rod want to build an experience around their new arena.
The two entrepreneurs are in search of a place they can use to host pregame festivities, a space that they can use to help develop a culture around this new-look organization. Or as Lore and A-Rod are selling it, the two are in search of a new arena and surrounding area that the Minnesota Timberwolves can build a "footprint" around.
…just where they will play their games in Minneapolis is a future that is undecided and still unknown to Lore and Rodriguez. What appears certain is the current set-up at Target Center is not good enough long term…when it comes the possibilities of the arena generating revenue that can then go back into the team.
Ideally, they would like an arena in downtown Minneapolis, because having the Twins, Vikings, Wolves and Lynx "does so much for our community," Rodriguez said. But they have to find a location with the right kind of "footprint," Rodriguez said, to support their vision of an all-encompassing arena entertainment district around the area.
Of course, history has shown that building a new billion dollar home arena/stadium in the Minnesota pro market is much easier said, than done, a reality that is not lost on Marc Lore or Alex Rodriguez. Nonetheless, our new owners appear undeterred.
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No, they will not threaten to move or sell the team, even if the state of Minnesota, city of Minneapolis or whatever public entity within the Twin Cities are unwilling to help them with the funding. Instead, they're threatening to finance the build themselves.
Lore, A-Rod claim they're willing to privately fund new Minnesota Timberwolves stadium
When other local pro sports organizations have gone to the state of Minnesota for stadium/arena funding, they've done so while down on their hands and knees. Each time, local lawmakers have understood full-well that, without the public funding they desire, the build is dead.
But not with Lore and A-Rod's plan. Instead, the Wolves new owners are doubling down on something they've hinted at previously. If necessary, they'll privately fund the entire project, which will surely cost well into the billions of dollars.
Lore and Rodriguez have repeatedly squashed the notion that they would ever move the team out of Minnesota. "Alex and I said this from the beginning, we're never moving the team," Lore said.
Lore said while they haven't discussed the specifics of where the funding would come from for this project, they were "prepared to fund it privately."
I do not think that Marc Lore, Alex Rodriguez — or the other rich people now involved in the Minnesota Timberwolves organization — want to privately fund a new $1B+ arena.
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Having local government involved and invested in a massive stadium build will make the entire process much easier (and cheaper) for the new owners. And let's not get things confused. Lore and A-Rod can't pay for a new Timberwolves arena themselves, nor would they attempt to finance one that way.
Would the state really WANT out on everything a new arena brings?
Whether it's private or public investments, they'll need financial help building their new home. What Lore made clear is that a new Minnesota Timberwolves "footprint" facility is not reliant on government assistance.
But… do you believe in FOMO? Because both the state of Minnesota and city of Minneapolis profit from their major investments into US Bank Stadium and Target Field. Why? Because those utilities were paid for in billions of dollars worth of public funds , and both are considered "publicly owned".
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And if the Minnesota Timberwolves build a new arena in the Twin Cities, will the public sector really want to miss out on all the future revenue it will generate? On top of that, does the state really want to lose all control of what happens in the future with the Timberwolves' new home? Probably not.
Thus, from a strategy standpoint, I think the way Lore and A-Rod are playing this is genius. Because here's a free life lesson, kids — He who holds the money, holds the control.
When Lore and A-Rod go to the state or local government for public funding, their pitch won't be, 'we need you'. Instead, it'll be, 'do you want in on this opportunity'… which completely flips the conversation.
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