- The pair first purchased a stake in the franchise in 2021 and grew it in 2022
- The Timberwolves have made 11 playoff appearances under Glen Taylor
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Alex Rodriguez and Marc Lore are turning their minority stake in the Minnesota Timberwolves into a controlling stake in the NBA franchise.
According to reports, starting today the former MLB player and his business partner will exercise their option to purchase a majority stake in the team.
The group has a New Year's Eve deadline to sign up for this deal, which will also see them acquire the WNBA's Minnesota Lynx.
Rodriguez and Lore initially purchased a 20 percent stake in the team in July 2021, increasing their stake to 40 percent last year.
The 2021 deal was made with Rodriguez and Lore's intention to fully take over the team in this time frame.
Marc Lore (left) and Alex Rodriguez (right) will purchase a majority stake in the Timberwolves
Lore (middle right) and Rodriguez (right) buy the team from Glen Taylor (left)
Under Taylor's 29 years of ownership, the T-Wolves made the playoffs eleven times
The team's current majority owner, Glen Taylor, has been in charge of the Timberwolves since 1994 and has owned the Lynx since its inception in 1999.
Under Taylor's ownership, the Timberwolves have made the playoffs in eleven of 29 seasons.
But that includes seven straight first-round eliminations from the 1996-97 season through the 2002-03 season.
Of those eleven playoff appearances, only one did not end in the first round: in the 2003–04 season, when they reached the Western Conference finals but lost to the Los Angeles Lakers in six games.
As for the Lynx, they won four WNBA titles in the odd years from 2011-2017 – led by players like Seimone Augustus, Maya Moore and Sylvia Fowles.