NBA approves initial sale of Timberwolves to Rodriguez, Lore; ownership releases statements

The National Basketball Association has approved an initial sale of the Minnesota Timberwolves to Marc Lore and Alex Rodriguez.

Sources confirmed with ESPN that the sale was made final on Tuesday.

Lore and Rodriguez will join owner Glen Taylor’s ownership group as part of an anticipated succession plan that includes a 2 1/2-year pathway to control.

The partnership of Rodriguez and Lore has been seeking to make a deal on the franchise with Taylor since earlier this year.

Rodriguez is currently an analyst on Baseball Tonight on ESPN and a former MLB player. Lore is the former CEO of Walmart.

Taylor issued the following statement through the Wolves and Lynx:

"We are pleased to officially welcome Marc Lore and Alex Rodriguez to the Minnesota Timberwolves and Lynx family. Together with Marc and Alex, we take another step forward in building a world-class organization both on and off the court."

Lore and Rodriguez also posted a statement, saying:

"We are honored to officially join Glen Taylor and the ownership group of the Minnesota Timberwolves and Lynx organization. In this next chapter, we look forward to working with the organization, getting to know the players and devoted fans, and actively engaging int he community. Thank you to Glen and Becky Taylor for their partnership throughout this process. And, thank you to Commissioner Adam Silver and the NBA for welcoming us into the league."

Lore also tweeted:

"Big day for me and @AROD — so proud to officially be a part of the @Timberwolves & @MinnesotaLynx organization. Looking forward to working with Glen & Becky Taylor and getting to know the players, fans, and community as we kick off this exciting chapter of Minnesota basketball.

"Some of my best memories as a kid were centered around sports. As for basketball, I have fond memories of my 6-year-old little sister, Brooke, coming into my room to watch the Knicks games and reciting the names of all the players to me."

"As a middle schooler, I dreamt about owning a sports team — and today I’m so humbled to be a part of the @NBA and @WNBA family."

This is a developing story. KSTP Sports is working on confirming more details at this time.