The NBA on Tuesday approved the $1.5 billion sale of the Minnesota Timberwolves and the WNBA’s Minnesota Lynx from longtime owner Glen Taylor to an investment group led by entrepreneur Marc Lore and former MLB star Alex Rodriguez, officially concluding a drawn-out and at times contentious transition that began over four years ago.
The league’s board of governors — made up of all 30 team owners — unanimously voted in favor of the sale, which Taylor had attempted to block last year. The deal, including the four-time WNBA champion Lynx, is expected to be finalized this week, more than 1,500 days after the original agreement was struck.
The Timberwolves plan to introduce Lore and Rodriguez at a press conference during next month’s NBA Summer League in Las Vegas. According to the league, Lore will serve as the Timberwolves’ governor and Rodriguez as alternate governor, while Rodriguez will take on the role of governor for the Lynx, with Lore as his alternate.
