Lore and Rodriguez Complete Acquisition of Minnesota Timberwolves
Deal News | Jun 25, 2025 | Wachtell, Lipton, Rosen & Katz
On June 25, 2025, an investor group led by Marc Lore and Alex Rodriguez finalized their acquisition of the remaining 60% of the Minnesota Timberwolves and Lynx franchises. Previously, Lore and Rodriguez had secured an initial 40% stake as part of a multi-step transaction agreement executed in 2021 with the former owner, Glen Taylor. The full sale was completed at a valuation of $1.5 billion. The 2021 agreement granted them call options to eventually acquire full control. However, in March 2024, Taylor attempted to halt the progression of these call options to prevent the complete transfer of control. Lore and Rodriguez contested this action in arbitration and succeeded, gaining additional time to finalize the purchase under the original terms. The deal was sanctioned by the NBA Board of Governors on June 24, 2025.
Sectors
- Sports Management
- Private Equity
- Legal Services
Geography
- United States – The transaction concerns the Minnesota Timberwolves and Lynx, franchises based in the United States.
- Minnesota – Minnesota is specifically relevant as the location of the Timberwolves and Lynx sports teams involved in the acquisition.
Industry
- Sports Management – The article involves the acquisition of a professional sports franchise, the Minnesota Timberwolves and Lynx, within the sports management domain.
- Private Equity – The acquisition was handled by an investor group led by Marc Lore and Alex Rodriguez, indicative of private equity activities in professional sports.
- Legal Services – The involvement of Wachtell, Lipton, Rosen & Katz as legal advisor reflects the legal services industry in facilitating M&A transactions.
Financials
- $1.5 billion – Valuation at which the call options and the subsequent acquisition of the Minnesota Timberwolves and Lynx were structured.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Marc Lore | Investor | People | Co-led the investor group that acquired the Minnesota Timberwolves and Lynx. |
| Alex Rodriguez | Investor | People | Co-led the investor group alongside Marc Lore in acquiring the Minnesota Timberwolves and Lynx. |
| Minnesota Timberwolves | Target company | Companies | NBA professional basketball team and the main target of the acquisition. |
| Minnesota Lynx | Target company | Companies | WNBA professional basketball team included in the acquisition. |
| Glen Taylor | Selling Company (Vendor) | People | Former controlling owner of the Minnesota Timberwolves and Lynx. |
| Wachtell, Lipton, Rosen & Katz | Legal advisor | Companies | Provided legal advisory services for the acquisition transaction. |