Sources – Alex Rodriguez, Marc Lore to acquire majority of Timberwolves, Lynx

Marc Lore and Alex Rodriguez are expected to exercise their option to acquire a majority stake in the NBA's Minnesota Timberwolves and the WNBA's Lynx as early as Thursday, sources told ESPN.

Lore and Rodriguez, who have until Dec. 31, will formalize plans to purchase 40% of the NBA and WNBA franchises from Glen Taylor, which would give Lore and Rodriguez a combined 80% of the two teams by early 2024, according to sources. said.

Lore and Rodriguez still have more time to raise the funds needed to complete the majority purchase, which will be subject to approval by the NBA Board of Governors.

This filing is expected to close a process that began in April 2021 for Lore and Rodriguez to purchase the Timberwolves and Lynx in installments from Taylor. Lore and Rodriguez previously purchased two 20% installments at a $1.5 billion valuation for the franchise.

With the ownership transfer finalized, the Timberwolves are engaged in their best season ever – 22-7 and the No. 1 seed in the Western Conference. Under the growing influence of Lore and Rodriguez, the Timberwolves hired Denver Nuggets general manager Tim Connelly as president, and his interactions with Rudy Gobert and Mike Conley played a significant role in the franchise's rise towards an elite level.

Taylor, who purchased the franchise in 1994, retains a 20 percent stake in the team – with an option to sell the rest to Lore and Rodriguez later.