NBA owners unanimously approve $1.5 billion sale of Minnesota Timberwolves, WNBA's Lynx
Minnesota Timberwolves head coach Chris Finch reacts next to center Naz Reid (11) during the first half of Game 5 of the Western Conference finals of the NBA basketball playoffs against the Oklahoma City Thunder, Wednesday, May 28, 2025, in Oklahoma City. (AP Photo/Nate Billings)
MINNEAPOLIS (AP) — The $1.5 billion sale of the Minnesota Timberwolves from Glen Taylor to an investment group led by e-commerce entrepreneur Marc Lore and former baseball star Alex Rodriguez gained NBA approval on Tuesday, finalizing a complex and contentious process more than four years after the deal was reached. The ownership transfer that Taylor tried to stop last year received an unanimous vote from the board of governors comprised of the 30 team owners, the league announced. The deal, which is expected to close this week nearly 51 months and more than 1,500 days after the initial agreement, includes the four-time WNBA champion Minnesota Lynx.
The Timberwolves are planning an introductory news conference for Lore and Rodriguez next month in Las Vegas during the NBA Summer League. Lore and Rodriguez will serve as co-chairmen on the board, with Lore as Timberwolves governor and Rodriguez as alternate governor. For the Lynx, Rodriguez will serve as governor and Lore as alternate governor.
___
AP NBA: https://apnews.com/nba
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBS News
7 minutes ago
- CBS News
Bouanga scores LAFC's lone Club World Cup goal in 1-1 draw with Flamengo
Jorginho scored in the 87th minute, giving Flamengo a 1-1 draw with already eliminated Los Angeles FC in the Club World Cup on Tuesday night. Denis Bouanga scored LA's only goal of the tournament in the 84th minute. Flamengo won Group D with seven points, one ahead of Chelsea. The result marked the first Club World Cup match in Orlando to finish without a weather delay, as well as the highest attendance in Orlando so far, with 32,933 fans filling a 60,219 capacity Camping World Stadium. Marlon appeared to score Los Angeles' first goal of the tournament in the 38th minute but the goal was disallowed on an offside call. Flamengo secured a spot in the knockout rounds with a 3-1 win over Chelsea on Friday and will face Bayern Munich on Sunday at Miami Gardens, Florida. LA, last year's Major League soccer Western Conference champion, finished with two losses and a draw.
Bloomberg
12 minutes ago
- Bloomberg
HUD Plans to Move Operations From Washington to Virginia
The US Housing and Urban Development Department, whose headquarters in Washington is up for sale, plans to move at least some of its operations into another federal building just outside the city amid a broader Trump administration campaign to consolidate government costs. The housing agency is to announce the relocation to what's now the National Science Foundation headquarters across the Potomac River in Alexandria, Virginia, on Wednesday, according to a statement by the American Federation of Government Employees Local 3403. Housing Secretary Scott Turner and Virginia's Republican governor, Glenn Youngkin, are expected to make the announcement on Wednesday, the union said.
CBS News
12 minutes ago
- CBS News
Mavericks agree to $119M, 3-year deal with Kyrie Irving amid injury recovery, AP reports
The Dallas Mavericks and Kyrie Irving have agreed on a $119 million, three-year contract with the All-Star guard still recovering from a torn ACL that will sideline him into the 2025-26 season, a person with knowledge of the deal said Tuesday night. Irving is declining the $43 million player option in the final year of his current three-year contract, the person told The Associated Press on condition of anonymity because the deal isn't expected to be finalized until the start of the new league year on July 6. ESPN's Shams Charania also reported the $119 million deal. The new contract will align Irving with co-star Anthony Davis, who joined the Mavericks in the seismic trade that sent Luka Doncic to the Los Angeles Lakers in February. Davis has three years remaining on his contract, with a player option that now will be the same season as Irving, 2027-28. The agreement with Irving came on the eve of the NBA draft, with the Mavericks poised to take former Duke star Cooper Flagg with the No. 1 overall pick after winning the draft lottery despite having just a 1.8% chance to do so. Irving also is a Duke alum, as is young center Dereck Lively II. Once the nine-time All-Star returns from his injury, perhaps in December or January, all three among Irving, Lively and Flagg figure to be in the starting lineup. The 33-year-old Irving came to the Mavericks in a 2023 trade after a tumultuous tenure in Brooklyn. The idea then was to pair him with Doncic, and a year later the duo led Dallas to the NBA Finals for the first time in 13 years. Boston beat the Mavs in five games last June. The stunning decision to send Doncic to the Lakers elevated Irving's status, although Davis' championship pedigree with the Lakers essentially put the two on even footing. Davis went down with a groin injury in his Dallas debut, and before he could come back, Irving sustained his knee injury about a month after the Doncic trade.
