Star Tribune · Dec 30, 2022
New Timberwolves owners on schedule to purchase team
Alex Rodriguez and Marc Lore celebrated a Wolves victory last April at Target Center.The sale of the Timberwolves is proceeding on schedule, sources confirmed Thursday.
The team's new owners, Marc Lore and Alex Rodriguez, met their December deadline and picked up an option to buy the next 20% of the team from majority owner Glen Taylor. If Lore and Rodriguez meet a March closing date for their payment, they will own 40% of the Timberwolves.
The new owners are expected to take on limited partners before that transaction.
The next option would come at the end of 2023, when Lore and Rodriguez can agree to purchase another 40%, making them majority owners.