{"id":124148,"date":"2025-06-25T18:22:13","date_gmt":"2025-06-25T18:22:13","guid":{"rendered":"https:\/\/www.rawchili.com\/nba\/124148\/"},"modified":"2025-06-25T18:22:13","modified_gmt":"2025-06-25T18:22:13","slug":"popular-nba-franchise-sells-for-1-5-billion-after-official-announcement-following-la-lakers-historic-10bn-sale","status":"publish","type":"post","link":"https:\/\/www.rawchili.com\/nba\/124148\/","title":{"rendered":"Popular NBA franchise sells for $1.5 billion after official announcement following LA Lakers historic $10bn sale"},"content":{"rendered":"

A PROMINENT NBA team has sold for $1.5 billion just days after the sale of the iconic Los Angeles Lakers.<\/p>\n

The NBA<\/a> has finally approved a team sale that was among the longest of its kind.<\/p>\n

\"Jeanie<\/a><\/p>\n

4<\/p>\n

Jeanie Buss owned the Los Angeles Lakers and sold the NBA for $10 billion in a stunning development last weekCredit: Getty\"Rudy<\/a><\/p>\n

4<\/p>\n

Minnesota Timberwolves star center Rudy Gobert seen being guarded by Lakers’ Rui Hachimura during the first round of the 2024-25 NBA playoffsCredit: Getty<\/p>\n

Last Wednesday, it was announced that the Lakers<\/a>, the NBA’s most famous franchise, sold for $10 billion.<\/p>\n

After owning the franchise for 46 years, the Buss family sold its majority stake to the Los Angeles Dodgers owner Mark Walter<\/a>, and Jeanie Buss will continue her governorship of the team.<\/p>\n

And another NBA organization has decided on a new chapter.<\/p>\n

The NBA approved the $1.5 billion transfer of the Minnesota Timberwolves<\/a> and WNBA<\/a>‘s Minnesota Lynx from Glen Taylor to entrepreneur Marc Lore and MLB legend Alex Rodriguez<\/a>.<\/p>\n

The pair is set to take on majority control of the franchise that Taylor owned for more than 30 years.<\/p>\n

The ownership decision that Taylor tried to stop last year received an unanimous vote from the 30 NBA team owners.<\/p>\n

The deal was originally signed in 2021<\/a> and is expected to go through after experiencing four-plus years of disputes.<\/p>\n

Among the disputes was that Taylor alleged that Lore and Rodriguez missed an important payment deadline and sought to keep control of the two teams permanently, a matter that went to an arbitrator who ultimately ruled in favor of the two.<\/p>\n

There will be an introductory news conference for Lore and Rodriguez next week in Las Vegas at the NBA Summer League.<\/p>\n

Lore and Rodriguez will be co-chairmen on the board, as Lore will be the Timberwolves governor, and Rodriguez will be alternate governor, with the roles reversed for the Lynx.<\/p>\n

LA Lakers owner Jeanie Buss agrees to sell NBA team for $10 BILLION in shock announcement<\/p>\n

“Today marks a momentous milestone for us, and we fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises,” Lore said in a statement.<\/p>\n

“We are committed to building an organization that sets the standard for excellence, is universally admired, and rooted in pride that spans generations.”<\/p>\n

The Timberwolves have been highly competitive recently, earning Western Conference Finals each of the past two seasons.<\/p>\n

The franchise, led by rising star Anthony Edwards<\/a>, lost to the eventual NBA champion Oklahoma City Thunder this past season.<\/p>\n

The Lynx, meanwhile, has a more successful history as they’ve won four WNBA titles and appeared in seven conference championships, including in 2024.<\/p>\n

\"Alex<\/a><\/p>\n

4<\/p>\n

MLB icon Alex Rodriguez, front, and billionaire entrepreneur Marc Lore, right of Rodriguez, are officially the Timberwolves’ majority ownersCredit: AP<\/p>\n

Both teams reside in Target Center in Minneapolis.<\/p>\n

They are now owned by Lore, whose net worth is estimated by Forbes at $2.9 billion.<\/p>\n

He is the CEO of the New York-based meal delivery company called Wonder.<\/p>\n

And Rodriguez is a retired 14-time MLB All-Star who has built a business career on real estate investment and development.<\/p>\n

\"Minnesota<\/a><\/p>\n

4<\/p>\n

Lore and Rodriguez watch a Timberwolves game last DecemberCredit: AP<\/p>\n

He earned more than $450 million in salaries during his 22-year baseball career.<\/p>\n","protected":false},"excerpt":{"rendered":"A PROMINENT NBA team has sold for $1.5 billion just days after the sale of the iconic Los…\n","protected":false},"author":2,"featured_media":124149,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3790],"tags":[7,4034,1698,300,4044,251,150,4033,4043,152,6,4503],"class_list":{"0":"post-124148","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-los-angeles-lakers","8":"tag-basketball","9":"tag-la","10":"tag-la-lakers","11":"tag-lakers","12":"tag-lalakers","13":"tag-los-angeles","14":"tag-los-angeles-lakers","15":"tag-losangeles","16":"tag-losangeleslakers","17":"tag-minnesota-timberwolves","18":"tag-nba","19":"tag-section-sportbasketball"},"share_on_mastodon":{"url":"https:\/\/channels.im\/@nba\/114745399508933061","error":""},"_links":{"self":[{"href":"https:\/\/www.rawchili.com\/nba\/wp-json\/wp\/v2\/posts\/124148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rawchili.com\/nba\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rawchili.com\/nba\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nba\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nba\/wp-json\/wp\/v2\/comments?post=124148"}],"version-history":[{"count":0,"href":"https:\/\/www.rawchili.com\/nba\/wp-json\/wp\/v2\/posts\/124148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nba\/wp-json\/wp\/v2\/media\/124149"}],"wp:attachment":[{"href":"https:\/\/www.rawchili.com\/nba\/wp-json\/wp\/v2\/media?parent=124148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rawchili.com\/nba\/wp-json\/wp\/v2\/categories?post=124148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rawchili.com\/nba\/wp-json\/wp\/v2\/tags?post=124148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}