Timberwolves Owner Glen Taylor Sells Team To Local Tech Billionaire

Taylor, Who Bought The Team In 1994, Steps Down After 28 Years Of Ownership

Glen Taylor, the longtime owner of the Minnesota Timberwolves, has agreed to sell the team to local tech billionaire Marc Lore and former baseball star Alex Rodriguez. The deal is expected to close later this year, pending approval from the NBA. Financial terms were not disclosed, but the sale price is reportedly around $1.5 billion.

Taylor's Legacy

Taylor, 80, bought the Timberwolves in 1994 for $88 million. During his tenure, the team made the playoffs 13 times, but never advanced past the Western Conference Finals. Taylor was also instrumental in bringing the WNBA to Minnesota, founding the Minnesota Lynx in 1999.

Lore And Rodriguez's Vision

Lore, 50, is the co-founder of Walmart's e-commerce business and the founder of Jet.com. Rodriguez, 46, is a former MLB All-Star and World Series champion. The two have pledged to invest heavily in the Timberwolves, both on and off the court. They plan to build a new practice facility, renovate Target Center, and hire a new coach and general manager.

What's Next For The Timberwolves?

The sale of the Timberwolves is a new chapter in the team's history. Lore and Rodriguez have a lot of work to do, but they have the resources and the experience to make the Timberwolves a contender. With a young and talented roster led by Karl-Anthony Towns and Anthony Edwards, the future is bright for the Timberwolves.