The NBA board of governors approved Marc lore Y Alex Rodriguez as limited partners of the Minnesota Timberwolves and Minnesota Lynx in a vote Tuesday, sources told ESPN’s Adrian Wojnarowski.
Lore and Rodriguez join Glen Taylor’s group of owners as part of an anticipated succession plan that includes taking control in two and a half years.
Taylor announced in July 2020 that he was looking for a buyer. The terms of the sale are similar to conversations Taylor had last year with billionaire Ryan Smith, who walked away from a possible deal to finally acquire the Utah Jazz for $ 1.66 billion in October.
Taylor, 80, saved NBA basketball in Minnesota when he bought the team for $ 88 million in 1994 after it nearly moved to New Orleans. But he has had an unspectacular property career in the 26 years since, missing the playoffs in 16 of the past 17 seasons and advancing past the first round only once.
Taylor has had a much more successful tenure owning Lynx, who has won four WNBA championships in the past 10 years.
He has talked about keeping the Timberwolves in Minnesota with new owners, but Rodriguez’s ties to Seattle and that city’s desire to return to an NBA franchise could become a long-term problem.