Alex Rodriguez wins dispute to become majority shareholder of the Minnesota Timberwolves

Finally, and after a months-long dispute, Alex Rodriguez and Marc Lore will become the new majority shareholders of the NBA's Minnesota Timberwolves. An arbitration panel ruled in favor of the investment group led by the former MLB player and the businessman in deciding that Glen Taylor, the franchise's current owner, must sell them the agreed-upon share.

Both Rodriguez and Lore were "extremely satisfied" with the ruling, while conveying their ambition to lead the Timberwolves and the WNBA's Minnesota Lynx, who are also part of the deal, to win their respective leagues. Still, they will have to wait to receive approval from the NBA Board of Governors.

"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," the new majority shareholders said in a statement reported by insider Shams Charania.

Taylor said he felt "disappointed" with the panel's decision, adding that he will "review [it] thoroughly" before contesting or making any further comment.

The transaction began in 2021. After several months of talks and negotiations, Taylor finalized the sale of 80% of the Timberwolves and 80% of the Lynx to the group led by Rodriguez and Lore in exchange for $1.5 billion. The two already owned 20% of each of the franchises. The sale would be split into three equal parts.

Suddenly, when Lore and Rodriguez were going to acquire the last 20% of each of the franchises, Taylor went back on the deal, alleging that the new owners "had missed the payment deadlines." It was then that the dispute between the two parties began, which has concluded with a decision in favor of the investment group.