It took 4 years and 1 month⏲️NBA approved the official change of ownership of the Timberwolves, Taylor bought 94 million % 261.5 billion %

According to the new owner of the Timberwolves, the left is Lore and the right is Rodriguez, the NBA board of directors approved the sale of the Minnesota Timberwolves and the WNBA team Minnesota Bobcats, and unanimously agreed to sell the controlling stakes of the two teams by Glen Taylor to e-commerce giant Mark Lore and MLB legend Alex Rodriguez.

NBA officials said the deal is expected to be completed this week.

It is worth mentioning that Glen Taylor's cost of $94 million when he acquired the Timberwolves in 1994, and the price for sale was $1.5 billion.

Glen Taylor sells Timberwolves timeline:

In May 2021, Timberwolves owner Glen Taylor agreed to sell the team to Lore and Rodriguez for a price of US$1.5 billion;

At the end of March 2024, the Timberwolves officially issued a statement saying that the deal was terminated because the buyer failed to deliver on time, and Glen Taylor is still the big boss who controls most of the team's equity. At that time, Taylor said that the buyer had expired and the team would no longer sell it. Taylor, Lore and Rodriguez fought each other; the dispute between the two sides entered the mediation process and an arbitration hearing was held in November; On February 11, 2025, the arbitration team that reviewed the sale of NBA team Timberwolves and WNBA team Bobcats had made arbitration, and the result was to support them to replace Glen Taylor as the next major shareholder of the Timberwolves; On April 2, 2025, Timberwolves owner Glen Taylor and Lore and Rodriguez finally reached an agreement to hand over all ownership of the Timberwolves and the Bobcats to the Lore& Rodriguez combination, with a price of US$1.5 billion.

On June 25, 2025, the NBA board of directors unanimously agreed to the conversion of the controlling stake in the Timberwolves and Bobcats, sold by Glen Taylor to Lore and Rodriguez.

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