Buying an NBA team isn’t cheap. And we aren’t talking about just money. Well, it is the biggest hurdle. However, there’s a long trail of red tape involved when it comes to acquiring a team once you have the requisite cash. And no one knows it better than Magic Johnson’s friend, former MLB shortstop, Alex Rodriguez, who isn’t out of the woods yet.
Alex Rodriguez and his partner, Marc Lore, just won their months-long legal battle to become majority owners of the NBA’s Minnesota Timberwolves and the WNBA’s Lynx. An arbitration panel comprising 3 members ruled in favor of A-Rod and his partner, Lore. However, one member sided against them as the vote was split 2-1. Even so, A-Rod’s friend took to X to congratulate him. “Congratulations to my good friend Alex Rodriguez! An arbitrator has granted him permission to buy the Minnesota Timberwolves and Lynx!” wrote Johnson expressing his delight in the verdict.
Congratulations to my good friend Alex Rodriguez! An arbitrator has granted him permission to buy the Minnesota Timberwolves and Lynx!
— Earvin Magic Johnson (@MagicJohnson) February 11, 2025
The arbitration panel set out to determine whether longtime owner Glen Taylor had breached his contract with Lore and A-Rod during the sale. This would be established based on what terms were outlined in the equity purchase agreement they signed in May 2021. Glen Taylor initially agreed to sell the teams to Lore and Rodriguez for $1.5 billion. Per the contract, Lore and A-Rod would pay in three installments over three years. However, while preparing the final payment, Taylor aborted the deal, claiming a delay on Rodriguez and Lore’s part.
Lore and Rodriguez countered this claim, saying the contract entitled them to an additional 90 days. The reason? The NBA hadn’t given their approval yet. The arbitration panel agreed that this was the case. However, the panel’s decision doesn’t lead to Lore and A-Rod gaining immediate ownership. They need to clear yet another hurdle to do so. Now, the two need to endure a league approval process. This entails a vote by the Board of Governors. And it’s a major hindrance to the pair as there is no timeline for how long this may take. Nevertheless, the duo seems delighted with the board’s ruling.
In their joint statement, the legendary shortstop and his partner, Marc Lore, briefly expressed their joy over their legal victory before swiftly declaring their goals. “We are extremely pleased with today’s decision. We look forward to working with the NBA to complete the approval process and close this transaction so that we can turn our attention to winning championships in Minnesota for our incredible fans and the Twin Cities community,” read the statement.
And why wouldn’t they be? They seem to have big plans for the T-Wolves moving forward. But before that, they have to look to root out any problems they see within the franchise. This involves going against former owner Glen Taylor.
Alex Rodriguez and his partner plan a 100% takeover of the Minnesota Timberwolves
After the panel’s decision, the pair of Alex Rodriguez and Marc Lore became the new majority owners of the T-Wolves. Provided they can gain the Board of Governors’ approval, of course. Their original plan involved keeping longtime owner Glen Taylor in the fold. However, following this lengthy, and frankly, bitter legal battle, their plans have changed.
The Athletic‘s Jon Krawcynzski reported that they plan to buy out Taylor completely. “Originally, the plan was for [Lore and Rodriguez] to eventually take over 80% of the team and for Glen Taylor to stick around in a 20% holding and still be around the franchise. Certainly, that goodwill is out the window,” he told Dan Barreira of KFAN Radio.
Apr 14, 2024; Minneapolis, Minnesota, USA; Minnesota Timberwolves and Lynx minority owners Marc Lore and Alex Rodriguez watch in the fourth quarter of the game against the Phoenix Suns at Target Center. Mandatory Credit: Bruce Kluckhohn-USA TODAY Sports
“Lore and Rodriguez have amassed enough money to buy out Taylor completely. Their plan is to eventually buy 100% of the team and for Glen Taylor to be gone,” he said. But Jon admitted he doesn’t know whether Taylor is persona non grata now that Lore and A-Rod own the team. Nevertheless, he indicated that things remain touch and go in Minnesota.
The pair’s alleged decision to cut ties with Taylor does make sense. After all, he went back on a nearly finished deal, sowing a seed of distrust in them. And all that because he had seller’s remorse, according to Marc Lore. So it certainly doesn’t benefit Lore and A-Rod to work with someone who they don’t trust completely. Regardless, we believe this change in ownership benefits the T-Wolves greatly. With Glen Taylor’s small-town franchise management style replaced by Lore’s aggressive and modern one, good things await Minnesota in the future. Especially if they can pair up Anthony Edwards with someone who complements his play style!
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