Lakers legend Magic Johnson shares his feelings on $350 million Yankees icon buying Minnesota Lynx amid plans of T-Wolves takeover

New York Yankees icon Alex Rodriguez and businessman Marc Lore emerged victorious in their arbitration case against Minnesota Timberwolves and Lynx owner Glen Taylor. The ruling paved the way for them to assume majority ownership of the NBA and WNBA franchises, garnering LA Lakers legend Magic Johnson's approval.

Rodriguez and Lore engaged in a sales contract dispute with Taylor after he reneged on their 2021 agreement to purchase the Timberwolves and Lynx. The duo initially agreed to buy the organizations in three installments at a $1.5 billion valuation.

In March, Taylor announced that they missed their deadline to make a $600 million payment to increase their ownership stake from 36% to 80%. The longtime owner then decided to retain controlling ownership of both teams.

Rodriguez and Lore contested Taylor's decision, fighting for their right to a 90-day deadline extension via a weeklong arbitration hearing in November.

On Monday, ESPN's Shams Charania reported that the three-person arbitration panel ruled 2-1 in Rodriguez and Lore's favor. The partners reportedly demonstrated that they had raised enough funds to complete their payments for the franchises.

Following the news, Johnson commended the $350 million-worth Rodriguez (via Celebrity Net Worth) on X/Twitter, citing their longstanding friendship.

"Congratulations to my good friend Alex Rodriguez! An arbitrator has granted him permission to buy the Minnesota Timberwolves and Lynx!" Johnson wrote.

Rodriguez and Lore now await a vote from NBA owners to finalize their purchase, requiring 23 of 30 votes. They have reportedly already made a concerted effort to gain support from "dozens" of owners. Thus, their majority ownership acquisition appears imminent.

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Alex Rodriguez and Marc Lore on inching closer to becoming majority owners of Minnesota Timberwolves and Lynx

After winning their arbitration case, Alex Rodriguez and Marc Lore released a statement expressing eagerness to become controlling owners of the Minnesota Timberwolves and Lynx. They also touched on their plans to guide both franchises to championships.

"We are extremely pleased with today's decision," Rodriguez and Lore said. "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 for our incredible fans and the Twin Cities community."

The Timberwolves have never won an NBA title. However, last season, they made their first Western Conference finals appearance since 2004. They also have one of the league's most promising young superstars in Anthony Edwards.

Meanwhile, the Lynx have won four WNBA championships, most recently in 2017. The franchise is also coming off a 2024 finals run, spearheaded by superstar forward Napheesa Collier.

So, the future appears bright in Minnesota.

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