NBA Commissioner Provides Update on Timberwolves Ownership

On Thursday, NBA Commissioner Adam Silver made remarks to the media regarding expansion to Europe, All-Star format disappointment, and updates for both the Boston Celtics and Minnesota Timberwolves ownership groups. For Boston, the sale is still in the early stages, so he had very little to offer. Regarding Minnesota, the update was more convoluted. Although arbitrators decided that the team sale should move forward, the current owner is still seeking options to retain control. But to understand the current standstill, let’s first recap the history of this transaction.

NBA Commissioner Provides Update on Timberwolves Ownership

Breakdown of the Timeline

A process that started nearly four years ago is still awaiting a definitive conclusion. Glen Taylor, the longtime owner of the Minnesota Timberwolves, agreed to sell the team to billionaire entrepreneur Marc Lore and former MLB star Alex Rodriguez back in July 2021. The deal was unusual in the world of sport franchise transactions. The agreement allowed Lore and Rodriguez to pay an agreed fee of $1.5 billion over the course of three payments. This immediately drew concerns from fans that Lore and Rodriguez might not actually have the funds available, while the more optimistic saw it as a chance for them to learn from Taylor. Either way, the two parties needed to cooperate for the deal to work.

The partnership started strong, with Lore and Rodriguez making improvements around the edges. They sat courtside with Taylor and his wife, Becky, and created new traditions. The Wolves were fighting for the playoffs, and Anthony Edwards was on his way to becoming the face of the league. Starting with a play-in victory in 2022, another in 2023, and finally a Western Conference Finals run in 2024, the franchise that hadn’t won a playoff series in 20 years was heating up. However, this rapid rise to the top might’ve been the downfall of Lore and Rodriguez’s partnership with Taylor.

Glen Taylor Gets Cold Feet

On March 28th, 2024, nearly a year ago to the date, Glen Taylor published an update, claiming that Lore and Rodriguez had failed to make the final payment within the allotted time frame. This meant that although Lore and Rodriguez held 40% ownership, Taylor still was the majority owner. His statement concluded with, “The Timberwolves…are no longer for sale.” The parties had reached an impasse. Lore and Rodriguez were adamant they had met all deadlines, had the money ready to go, and felt blindsided by Taylor’s assertion. Their relationship went from cordial to cold, and a year of arbitration followed.

It’s no coincidence that Taylor backed out of the deal just weeks before the Timberwolves concluded their most successful regular season in 20 years. The valuation of the team had spiked in the three years since he agreed to the $1.5 billion figure. With the recent sale of the Phoenix Suns, there was a new standard for NBA franchise values. It was much higher than Taylor had agreed to. It seemed obvious that Taylor exploited a timing loophole to force Lore and Rodriguez into this period of arbitration, and hoped to convince a panel that his claim to the team was still legitimate.

Arbitrators Make Their Decision on Timberwolves Ownership

On February 10, 2025, the Timberwolves announced that a three party panel had determined that, “Lore and Rodriguez may continue to pursue their application for NBA approval.” The decision was supposed to be final. Minnesota could put the drama behind them and focus on a playoff push. But Taylor wasn’t letting his grip on the team go yet.

In Silver’s updates Thursday, he said that Taylor has yet to concede the sale, and is looking for additional options. He could appeal the arbitration hearing, but it appears unlikely that his side could make any significant changes. However, because Taylor hasn’t fully completed the sale, the league cannot get involved. The NBA Board of Governors cannot officially approve the sale (a formality that has never not gone through). Timberwolves fans will have to wait just a little longer before the Glen Taylor saga ends, and the great Kevin Garnett can finally be honored in Minnesota.