Minnesota Timberwolves Sale To New Owners Has Been Approved
The NBA have approved the deal which will see Marc Lore and Alex Rodriguez purchase shares in Minnesota Timberwolves. Also included in the deal will be the WNBA franchise Minnesota Lynx.
A statement has been revealed from current owner Glen Taylor, announcing the deal between the two parties. “Together with Marc and Alex, we take another step forward in building a world-class organization both on and off the court,” says Taylor.
Lore and Rodriguez will begin with 20% stakes in the club. Following this the two will have the right to purchase a further 20% in 2022 and 2023. The sale of the club is worth $1.5 billion and has been approved by the NBA.
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Speaking about his purchase, Lore took to Twitter saying that he has “dreamt about owning a sports team” adding how he is happy to be apart of the NBA and WNBA family.
However one condition of the deal is that the team must remain in Minnesota. This being as when Taylor purchased the team in 1994 he did so to stop the move to New Orleans.
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