The Minnesota Timberwolves have been sold for $1.5 billion to the Anne Investment Group, led by e-commerce entrepreneur Mark Lore and former baseball star Alex Rodriguez. The NBA’s board unanimously approved the sale, concluding a four-year process marked by controversy. Lore will serve as the team’s governor, while Rodriguez will act as an alternative governor.
Mark Lore expressed a commitment to establishing high standards for the franchises, while Rodriguez emphasized his dedication to building a winning culture. Glen Taylor, the previous owner, purchased the team in 1994 and faced challenges in selling the franchise, including an attempt to back out of the deal last year.
After undergoing mediation and arbitration, the sale was finalized, allowing Lore and Rodriguez to acquire full control of the teams. The Timberwolves, although historically struggling in the playoffs, recently made strides, reaching the Western Conference Finals. Taylor remarked on the end of his ownership chapter in a farewell message, thanking fans and the community for their support. Overall, the transition reflects a significant moment for Minnesota basketball, with Lore and Rodriguez ready to reshape the franchises.
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