NBA team owners approve sale of T-Wolves to Lore and A-Rod
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NEW YORK — NBA team owners have unanimously approved the sale of the Minnesota Timberwolves from Glen Taylor to Marc Lore and retired baseball star Alex Rodriguez, the league announced Tuesday.
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The transaction, expected to close this week, leaves Lore and Rodriguez co-chairmen of the T-Wolves and Women's NBA Minnesota Lynx.
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Taylor tried to stop the multi-year process after agreeing to a reported $1.5 billion deal in 2021, but declined to appeal an arbitrator's ruling that set up Lore and Rodriguez completing the deal.
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'After 30 unforgettable years, our time as owners of the Minnesota Timberwolves and Lynx has come to a close,' Taylor said in a statement for himself and wife Becky.
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'This marks the end of an extraordinary chapter in our lives –- one filled with purpose, pride, and a deep connection.'
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Lore, a businessman, and Rodriguez, a 14-time MLB All-Star who won a World Series in 2009 with the New York Yankees, will take charge of a team that went 49-33 and lost in the Western Conference finals for the second year in a row.
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'We are honored to lead the Timberwolves and Lynx into a bold and exciting new era,' Lore said. 'Today marks a momentous milestone for us, and we fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises.
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'We are committed to building an organization that sets the standard for excellence, is universally admired, and rooted in pride that spans generations.'
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