In April 2021, Timberwolves owner Glen Taylor agreed to sell the team for $1.5 billion. After a long, drawn-out process, the sale of the franchise is set to be finalized this week. 

One hundred percent of the Minnesota Timberwolves and Minnesota Lynx franchises will be sold to Mark Lore and Alex Rodriguez. In 1994, Glen Taylor purchased the Timberwolves for $88 million. That helped keep the team from making a move to New Orleans. On Monday, Taylor and his wife Becky released a goodbye statement via the team’s website. They thanked everyone who’s been with the Timberwolves on their 30-year journey.

Glen Taylor thanked anyone who was part of his time as the owner of the Timberwolves

Glen and Becky Taylor say “Thank You, Minnesota”

“When we kept the Timberwolves from moving to New Orleans in 1994, we did so with the hope of building something that could unite people across Minnesota and beyond. And when we added the Lynx in 1998, it was driven by our belief… pic.twitter.com/FFoAURFAr7

— Wolves Lead (@TWolvesLead) June 23, 2025

In 2021, news broke that Timberwolves owner Glen Taylor was selling 100% of the team to  Mark Lore and Alex Rodriguez. This was a unique process in acquiring ownership of a franchise. Mark Lore and Alex Rodriguez bought the team in installments at a $1.5 billion price tag. All parties agreed to this process in 2021. When it came time for Lore and Rodriguez to make their final payment, Glen Taylor said it was void.

He stated that the final payment did not come before the prescribed deadline. Mark Lore and Alex Rodriguez disputed this disagreement and went to arbitration. Lore and Rodriguez won, and a deal has since been reached. The NBA has formally started transferring ownership, which includes a vote on the board of governors.

On Monday, long-time Timberwolves owner Glen Taylor released a goodbye statement via the team’s website. He had this to say.

“After 30 unforgettable years, our time as owners of the Minnesota Timberwolves and Lynx has come to a close. This marks the end of an extraordinary chapter in our lives – one filled with purpose, pride, and a deep connection.” – Glen Taylor 

Additionally, Glen Taylor and his wife, Becky, thanked the fans of the team. The Taylors were so grateful for the city of Minnesota welcoming their family with open arms. In his statement, Glen Taylor noted he and his wife will still be in attendance at games as fans of the team. Mark Lore and Alex Rodriguez are set to begin a new chapter as owners of the Minnesota Timberwolves.

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