Glen Taylor sells Minnesota Timberwolves for $1.5 billion after three decades

In early 2024, Glen Taylor officially confirmed his decision to transfer ownership of the Minnesota Timberwolves and the WNBA's Minnesota Lynx after a lengthy negotiation process. The sale, finalized after more than four years of discussions, was conducted for $1.5 billion and marked the end of Taylor's three decades as owner, a period that began in 1994 when he bought the franchise for $88 million to prevent its relocation to New Orleans. This transition occurred amidst a heated dispute over control between Taylor and a partnership led by Marc Lore and Alex Rodriguez, who sought majority ownership. As the negotiations progressed, an arbitration panel ultimately ruled in favor of Lore and Rodriguez, allowing them to obtain the majority stake they desired. Taylor expressed profound gratitude for the support he received from the community throughout his tenure, noting that despite stepping down, his love for the organization and the state of Minnesota would persist. During his ownership, Taylor worked to maintain the teams' presence in Minnesota and foster community engagement through sports. As Taylor and his wife Becky penned a farewell letter to fans, they reflected on their unforgettable journey, commemorating the joys and challenges they experienced over thirty years, including the addition of the WNBA's Lynx in 1998, highlighting their commitment to diversity and women in sports. The approval of the sale by the NBA emphasized the stability and potential future of both franchises, with Lore and Rodriguez promising to uphold a standard of excellence moving forward.