Marc Lore, Alex Rodriguez and their investor group in the acquisition of the Minnesota Timberwolves and Lynx

On June 25, 2025, an investor group led by Marc Lore and Alex Rodriguez completed the acquisition of the remaining 60% of the Minnesota Timberwolves and Minnesota Lynx it did not already own.  Lore and Rodriguez had previously acquired 40% of the teams pursuant to a 2021 agreement with then-controlling owner Glen Taylor that provided for a multi-step transaction structured as a series of call options at a $1.5 billion valuation.  After Taylor sought to terminate the remaining call options to prevent Lore and Rodriguez from acquiring control in March 2024, Lore and Rodriguez prevailed in a lengthy arbitration and were granted additional time to close the transaction in accordance with its agreed terms.  The transaction was unanimously approved by the NBA Board of Governors on June 24, 2025.

Wachtell, Lipton, Rosen & Katz served as legal advisor to Marc Lore, Alex Rodriguez and the investor group.