It looks like the Minnesota Timberwolves and Lynx franchises will "officially" have new owners.
Longtime Wolves-Lynx owner Glen Taylor - after a year's long battle - will agree to complete the full ownership sale to Alex Rodriguez and Marc Lore.
Taylor has decided not to appeal after Minnesota arbitrators that ruled in favor of the Lore-Rodriguez group in February and that the NBA will now start the transfer process.
The league's ownership group must fully approve the sale before it becomes official. The 100% ownership of the Minnesota Timberwolves and Lynx will stay at the same $1.5 billion tag the sides reached in 2021.
At issue between the groups was a protracted purchase that dates back a few years with the Lore and Rodrigiuz buying the team in basically installments. Taylor had said that they missed a payment, which ruled the deal null and void.
That decision was overruled in arbitration.
The $1.5 billion price tag that was set in 2021 is thought to be on the low side for NBA franchise values, which have jumped following new TV deals that have added billions in value to the league. The latest Forbes valuation from 2024 lists the value of the Timberwolves franchise at over $3 billion, double what Taylor originally agreed to.
The Boston Celtics recently sold for a record price of $6.1 billion, however that sale may be in jeopardy going forward according to reports.