Glen Taylor’s $1.5 billion sale of the Timberwolves to an investment group led by Marc Lore and Alex Rodriguez has finally gained its approval from the NBA’s board of governors, which puts an end to a complex process that lasted over four years after the deal was first reached. 

The new owners, who are former baseball superstar and a well-known e-commerce entrepreneur, can now celebrate what they’ve been working so hard for, as the news of the agreement was announced this Tuesday. The league’s board attempted to stop this purchase last year after a unanimous vote, but reconsidered this week.

The negotiations, which are expected to proceed now after more than 1,500 days since the initial consent, also includes the four-time WNBA champion club Minnesota Lynx. The organization is now planning an introductory news conference next month during Las Vegas’ summer league.

“We fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises,” said Lore, who will also serve as the new governor. “We are committed to building an organization that sets the standard for excellence, is universally admired, and rooted in pride that spans generations.”

Both business partners met over a Zoom call over the pandemic and their lives haven’t been the same ever since. Back in 2021, they decided to go through with this long process and now more than ever, this partnership promises to remain committed to taking both Minnesota franchises to the top.

“I’ve dedicated my entire life to the world of sports, not just as a game, but as a powerful force that unites people, uplifts communities, and changes lives,” Rodriguez shared in a statement. “I’m incredibly honored and energized to roll up my sleeves and get to work.”

The ex-MLB star then added: “I know what it takes to be a champion, and I’m ready to bring that same commitment and drive to create a winning culture in Minnesota.” The franchises’ value has more than double since 2021, mostly due to growing NBA revenues, as the Wolves are estimated to be worth $3.1 billion.

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