By: Joe Koch
March 19th, 2025
Photo Credit: NBC Sports
The Glen Taylor era has officially ended in Minnesota. Taylor, a Minnesota native, built his career through multiple business ventures and politics, serving as a state senator before purchasing the Timberwolves for $94 million in 1994. After 31 years, Marc Lore and Alex Rodriguez are set to take over. And as of February 23, Timberwolves legend Kevin Garnett is set to join the ownership group, with finalizations finishing up currently.
In 2021, Lore and Rodriguez agreed to acquire a minority stake from Taylor, with a plan for gradual majority ownership. However, Taylor later claimed the group had missed a required payment and quietly sought to retain partial ownership, leading to arbitration.
In the case, two of three arbitrators ruled in favor of Lore and Rodriguez, who provided evidence that the payment was scheduled for March 2024. They now have 90 days to finalize a $942 million payment to secure full control of the team, pending approval from the NBA’s other 29 owners—a step that appears to be a formality.
The Timberwolves now face a pivotal crossroads. This offseason, they traded Karl-Anthony Towns for Julius Randle, Donte DiVincenzo, and a first-round pick. Coming off a Western Conference Finals appearance, the team has drawn attention, despite inconsistent regular-season success and currently sitting in the play-in tournament. Financially, the franchise was burdened by the second apron before the trade, limiting flexibility due to the Rudy Gobert deal.
Another challenge for Lore and Rodriguez is the Target Center. Though the Timberwolves are under contract there until 2035 and recent renovations have been made, the arena poses financial limitations. It’s the only NBA venue with more upper-bowl than lower-bowl seating and has the league’s fewest luxury suites, capping revenue potential. As the NBA’s second-oldest arena (behind Madison Square Garden), its long-term viability remains in question.
One major bright spot is the team’s rising success. Anthony Edwards alone draws sellout crowds, as every home game has been sold out for the past two years. With General Manager Tim Connelly, who built Denver’s championship roster, the new ownership group has multiple paths to consider. With fresh leadership and a promising future, the Timberwolves’ next moves will be closely watched across the league.
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