Report: Glen Taylor transferring full ownership of Timberwolves, Lynx to Marc Lore and Alex Rodriguez

Shams Charania is reporting Wednesday that Taylor has elected not to challenge an arbitration panel's recent ruling in favor of Lore and Rodriguez after Taylor attempted to back out of the sale in March 2024. That means the year-long drama is over, with full ownership going to Lore and Rodriguez so long as the NBA Board of Governors approves the sale.

Completion of the sale is dependent on 23 of 30 members of the NBA's Board of Governors approving the agreement, which will see Taylor sell the professional basketball franchises for $1.5 billion. Taylor bought the Timberwolves in 1994 for $94 million.

Challenging the February ruling from a trio of arbitrators would've been difficult, as Taylor would've needed to take the case to federal court. According to Jon Krawczynski, the only way the ruling could be overturned in federal court would require Taylor to show evidence that the arbitrators were compromised.

It's unclear when the NBA's Board of Governors will vote. This is a developing story.

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