Friday afternoon in Las Vegas, Marc Lore and Alex Rodriguez hosted an in-person press conference to formally introduce themselves as the newest owners of the Timberwolves and Lynx.
An area the two new owners will explore improving for both franchises is their arena. Although it has undergone renovations, the Target Center is now 35 years old, a relic in the arena world of professional sports.
“If you want to compete at the level we want to compete year in and year out, a new arena is what our fans deserve,” Rodriguez said. “We’re in the very early stages. We’ve done a great deal of work over the last three years, but an arena in Minneapolis for our fans would be absolutely awesome.”
The press conference wase held in the Strip View Pavilion in Las Vegas, where the NBA Summer League is currently taking place.
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There’s also a Board of Governors meeting in Las Vegas early next week, and it seems likely that Commissioner Adam Silver will announce plans for the league to formally begin looking at expansion — though there is no guarantee that the NBA will ultimately decide to add teams.
Lore and Rodriguez became the owners of Minnesota’s teams after buying the team for $1.5 billion, following a lengthy legal dispute between the duo and former owner Glen Taylor.
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In 2024, Taylor told KSTP Sports that the sale of the Timberwolves and Lynx to Marc Lore and Alex Rodriguez was off, claiming the two had failed to meet their final payment deadline to obtain a controlling stake in the organizations.
Lore and Rodriguez denied Taylor’s claims, stating the long-time owner was suffering from “seller’s remorse” after the team’s valuation increased during the lengthy, multi-step process of completing the sale.
The legal dispute was later resolved in February 2025, when an arbitration board ruled that Taylor must proceed with transferring the teams to the new ownership group.
Taylor did not appeal the ruling, officially handing the Timberwolves, Lynx, and the G-League Iowa Wolves to the duo on June 24 after a successful NBA Board of Governors vote.
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They will serve as Co-Chairmen, with Lore assuming the role of Timberwolves Governor and Rodriguez as Alternate Governor. For the Lynx, Rodriguez will serve as Governor, while Lore will act as Alternate Governor.
The Associated Press contributed to this story.
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