(Photo by Stephen Maturen/Getty Images)
The Minnesota Timberwolves and their fans should be walking on clouds right now.
On top of having one of the best young players in the league and the best record in the Western Conference for the first time since the Kevin Garnett era, they’re now going to –officially– have two very successful owners more than willing to spend big bucks to lead them to success.
According to ESPN’s Adrian Wojnarowski, Marc Lore and MLB legend Alex Rodriguez are expected to exercise their option to acquire controlling ownership interest of both the Timberwolves and the WNBA’s Minnesota Lynx from Glen Taylor.
ESPN Sources: Marc Lore and Alex Rodriguez are expected to exercise their option to acquire controlling ownership interest of the Minnesota Timberwolves and Lynx from Glen Taylor as soon as today. They have a Dec. 31 deadline. pic.twitter.com/qCYnBZJ0pG
— Adrian Wojnarowski (@wojespn) December 28, 2023
They had a December 31 deadline, yet they’re expected to go on with the transaction later on Thursday.
This formalizes their intention to acquire an additional 40% of the franchise from the current ownership to give Lore and Rodriguez a total of 80% of the team and the majority ownership before the start of 2024, assuming the NBA’s Board of Governors approves this transaction.
This is great news for an ever-struggling franchise that was held back by the NBA for quite a while.
They were stripped of multiple picks for their violations of the league’s salary cap rules, which prevented them from surrounding Kevin Garnett with the kind of talent he needed to thrive.
Garnett eventually left to join the Boston Celtics, and the Timberwolves sunk again.
Now, led by Anthony Edwards, this team is finally making great strides and looks like a legitimate threat to come out of the Western Conference, and the new ownership will make sure to spend big bucks to keep them in contention for years to come.
The post NBA Insider Shares Major Update On Timberwolves Ownership appeared first on The Cold Wire.
