Arbitrators have ruled in favor of Marc Lore and Alex Rodriguez in their legal efforts to secure majority ownership of the Minnesota Timberwolves, as reported by Shams Charania of Moneyline. The ruling, however, is not the final word; the pair still requires approval from the NBA's Board of Governors to complete the ownership transfer.

In response to the ruling, Lore and Rodriguez stated, 'We are extremely pleased with today's decision. We look forward to working with the NBA to complete the approval process and close this transaction so that we can turn our attention to winning championships in Minnesota for our incredible fans and the Twin Cities community.' Meanwhile, Glen Taylor, the current owner of the team, expressed his disappointment with the arbitration outcome, describing the decision as a 2-1 ruling. He stated, 'We will review the decision thoroughly prior to making any further comment. We would like to express our sincere appreciation to Timberwolves and Lynx players, staff, and loyal fans for their support.'

The arbitration case centered on Taylor's attempt to halt the sale of the Timberwolves and the WNBA’s Minnesota Lynx. Taylor contended that Lore and Rodriguez had missed a payment deadline for the agreed-upon amount to finalize the sale. According to details shared by ESPN's Brian Windhorst, the prospective owners had agreed to make a series of payments, with the first two completed in 2022 and 2023, which transferred a 36 percent ownership stake valued at approximately $600 million. The final payment of $600 million is due by the end of March 2024. Taylor alleged that Lore and Rodriguez failed to meet this deadline, while the duo maintained that they had the funds ready but were hindered by the NBA’s approval process and believed they should receive an extension. With the outcome of the arbitration favoring Lore and Rodriguez, they now turn their attention to securing the necessary votes from the NBA Board of Governors. Lore and Rodriguez need the support of 23 out of 30 governors to complete the ownership transfer, which some sources suggest is unlikely to be rejected given the current circumstances.

As the situation with the Timberwolves unfolds, Lore and Rodriguez appear to be strategically prepared, having included notable figures such as billionaires Michael Bloomberg and Eric Schmidt, along with the private equity firm Dyal Homecourt Partners, into their ownership group. Reports suggest that they have raised approximately $950 million and placed it in an escrow account, indicating plans to buy out Taylor for the remaining 64 percent of the teams, beyond the additional 40 percent originally stipulated in the contract. The ongoing process sets a significant precedent for the future of the Timberwolves and Lynx, as the teams stand to gain clarity and direction amid this ownership transition.