Who Owns the Timberwolves?

Marc Lore and Alex Rodriguez own the Minnesota Timberwolves after completing a $1.5 billion acquisition approved by the NBA in June 2025. CNBC’s February 2026 valuation placed the franchise at $3.8 billion, ranking it 29th among the league’s 30 teams.

How the Minnesota Timberwolves Got Their Name

Minneapolis received an NBA expansion franchise in 1987, and the team first played in 1989. The name came from a public fan contest held before the inaugural season.

The timber wolf is native to Minnesota’s northern forests, and the winning entry connected the team to the state’s wildlife. The name has remained unchanged since the franchise began, making it one of the more geographically grounded identities in the NBA. Trends in direct-to-fan brand building across professional sports show how much team identity still matters for audience loyalty.

Who Owns the Timberwolves?

Marc Lore and Alex Rodriguez serve as co-chairmen. Lore holds the title of NBA Governor, while Rodriguez is the Alternate Governor. For the Minnesota Lynx, those titles are reversed.

Minority Investors in the Timberwolves

Bloomberg, former Google CEO Eric Schmidt, and private equity firm Blue Owl Capital hold minority stakes. The ownership group closed its purchase after the NBA’s board of governors approved the deal on June 24, 2025.

The Minnesota Timberwolves Mission Under New Ownership

Lore and Rodriguez have stated three priorities: build a championship-caliber roster, repair the franchise’s relationship with Kevin Garnett, and replace the aging Target Center.

The ownership group launched Jump, a mid-game ticketing platform that lets fans bid on seats after tip-off. They are also exploring a regional sports network to distribute games directly, a model similar to how other major North American sports leagues manage broadcast and streaming rights at the team level.

Timberwolves Ownership Transfer and Sale History

Glen Taylor agreed to sell the franchise in April 2021 at a $1.5 billion valuation, structured in four installments. The first two payments totaled $500 million and transferred 36% of the team.

Taylor called off the sale in March 2024, citing alleged missed payment deadlines. Lore and Rodriguez took the dispute to arbitration, and a panel ruled 2-1 in their favor in February 2025. The NBA approved the completed sale four months later, on June 24, 2025.

Timberwolves Franchise Valuation and Financial Growth

The $1.5 billion price from the 2021 agreement now looks modest. Forbes estimated the franchise’s value at $3.6 billion in October 2025. CNBC’s February 2026 figure of $3.8 billion puts the Timberwolves above several other mid-market teams.

Much of this appreciation is tied to the NBA’s $76 billion media deal, which distributes national television and streaming revenue across all 30 teams. Franchise valuations across professional sports leagues have followed a similar upward pattern during this period.

The Timberwolves Origin, Founders and Early Years

The NBA awarded an expansion franchise to Minneapolis in 1987. Harvey Ratner and Marv Wolfenson led the original ownership group and brought the team onto the court in 1989.

Relocation Threat and Glen Taylor’s Purchase

By the mid-1990s, the franchise faced relocation pressure. Glen Taylor purchased the team in 1994 for $88 million and committed to keeping it in Minneapolis. He owned the franchise for 31 years, citing the team’s connection to the state’s identity. That type of long-term single-owner stewardship echoes how evolving trends in sports management have shaped franchise stability across the four major leagues.

Largest Shareholders of the Timberwolves

Who Is on the Board of Directors for the Timberwolves?

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Richard Jaimes