Marc Lore, A-Rod Expected to Take Over Timberwolves Soon, New Arena Plans Coming…
Times are changing for the Minnesota Timberwolves. Fresh off their second-straight Western Conference Finals appearance, the team is headed in a new direction. Glen Taylor, who has owned the franchise since 1994 when he saved it from relocation to New Orleans, will finally transfer majority power to Marc Lore and Alex Rodriguez.
Taylor accepted his fate following arbitration hearings earlier this spring. Lore and A-Rod, who have been chomping at the bit to get going — will soon be putting their first official orders of business in motion.
Timeline set for Minnesota Timberwolves ownership change
Credit: Bruce Kluckhohn-Imagn Images
Now that the legal battle for ownership of the Minnesota Timberwolves has been put in the rearview mirror, the last hurdle needing to be overcome is the NBA owners vote, of which Lore needs 2/3 majority to seal this deal.
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Barring any unforeseen circumstances, the new ownership group is expected to be approved easily. And we also know when it will take place. According to a recent report from The Athletic's Jon Krawczynski, the NBA Board of Governors vote for Timberwolves majority ownership will take place in less than a month, 'toward the end of June'.
'Sometime toward the end of June, team sources familiar with the process told The Athletic, the league is expected to hold a final vote to approve Lore and Rodriguez as the new majority owners of the Timberwolves and Lynx.'
Jon Krawczynski – The Athletic
The exact date has not been made known, but the end of June coincides with some important dates on the league calendar. The NBA Draft is scheduled for June 25th. Minnesota holds the 17th and 31st overall selections. Just a few days later, June 30th, free agency opens.
It would behoove the Minnesota Timberwolves to have their new owners assume full power prior to those events taking place. The vote to make the ownership change permanent should go as planned, but until it's cemented in reality both Rodriguez and Lore must wait.
Related: Timberwolves Expected to Chase Kevin Durant Again… and He's Interested
This offseason is a significant one for the Timberwolves. President Tim Connelly could look to go elsewhere, and the roster changes are expected to be significant. Julius Randle, Nickeil Alexander-Walker, and Naz Reid are all key players that Minnesota must decide on how they fit into future plans.
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Anthony Edwards and his running mates came up short losing 4-1 in the Western Conference Finals for the second year in a row. Finding a blueprint to get beyond that point, and over the hump, will require looks at the roster and coaching staff.
New arena plans underway for Timberwolves
It's not just the roster configuration that new owners Rodriguez and Lore are concerned with. Minnesota's home arena, Target Center, is 35 years old and it needs more than just a facelift. In fact, the plan is to find a new home digs, something that the new owners have made clear will be a priority right away.
'They plan to be much more aggressive with their investment on the business side of the operations, including formulating plans for a new arena, team sources told The Athletic. The partners have openly stated their firm commitment to keeping the team in Minnesota, and team sources reiterated that is the long-term vision for a team that is booming in popularity locally, thanks to their playoff runs the last two seasons.'
Jon Krawcyznski – The Athletic
Multiple different sites and ideas have been floated regarding a new arena. It is something that the franchise must capitalize on while excitement is currently at an all-time high. How the building is funded, where, and what designs look like will all be of significant importance to fans.
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Related: Kendrick Perkins Apologizes to Anthony Edwards
Building over the offseason is always a goal for every franchise across the NBA. With such a monumental change at the top of the organization, this one figures to be the most significant in franchise history.
If Lore and Rodriguez can usher in a summer of excitement, and parlay that into a season of success, fans will be waiting in droves to enter the new building whenever its doors open.
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