As the Minnesota Timberwolves enter the stretch run toward the NBA playoffs, their three-year ownership transition plan is reaching a culmination point as well.
The deadline for Marc Lore and Alex Rodriguez to complete their purchase of a majority of the shares of the Timberwolves and Lynx from Glen Taylor is at the end of March. Lore and Rodriguez remain on track to finalize the transaction, two sources involved with the plans told The Athletic on Saturday.
It has been an unconventional process, given the years-long succession plan that was put in place when Lore and Rodriguez initially joined the ownership group as minority investors in April 2021. That makes now a good time to revisit the arrangement to make it clear how this is all supposed to play out.
The plan
When Taylor agreed to sell the franchises to Lore and Rodriguez, it was significant not just because of the transfer of power that was going to take place, but also because the Wolves and Lynx owner had finally found a setup to his liking after more than a decade of looking for a successor. Taylor had conversations with a handful of prospective partners before Lore and Rodriguez came along, but he was never able to come to an agreement on the terms for a sale. Part of the reason for that was Taylor wanted to make it…
