Glen Taylor has finalized the sale of the Minnesota Timberwolves and Lynx to Marc Lore and Alex Rodriguez for $1.5 billion, closing a protracted negotiation that began in 2021. The agreement follows Taylor's decision not to appeal an arbitration ruling favoring Lore and Rodriguez after a dispute over the sale terms. The group has strengthened their financial position, adding notable investors like Michael Bloomberg and Eric Schmidt. Following recent discussions, a smooth transfer process to finalize ownership is now underway.
Glen Taylor has agreed to sell the Minnesota Timberwolves and Lynx to Marc Lore and Alex Rodriguez for $1.5 billion, finalizing a long-standing negotiation.
Despite earlier disputes and arbitration over the sale, the final agreement was reached after Taylor decided not to appeal a ruling in favor of Lore and Rodriguez.
The acquisition includes significant investments from high-profile partners, solidifying the purchase group's financial position and overcoming previous hurdles in the sale.
Taylor, who bought the franchise in 1994 for $94 million, has had a complex history with the team, often considering selling it over the years.
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