The Minnesota Timberwolves and Lynx are officially entering a new era. On June 26, 2025, Marc Lore and Alex Rodriguez finalized their $1.5 billion acquisition of the franchises after a prolonged and at times contentious negotiation with former owner Glen Taylor.
With ownership now settled, the new leaders wasted no time laying out their vision—and it includes staying in Minnesota. Lore and Rodriguez emphasized their love for the state and their desire to build on its sports legacy. “We love the idea of Minnesota history and playing a part in that history,” Lore told The Athletic. “To move it and start over would be devastating.”
However, their loyalty to the state doesn’t extend to the Timberwolves’ current home. The Target Center, the NBA’s second-oldest arena, is widely regarded as outdated by league standards. The new ownership team said they plan short-term upgrades but made it clear they’ll explore building a new, state-of-the-art facility that raises the bar across the NBA.
“Arena separation from the second-best—we want to create a best-in-class experience,” Lore said.
Several top executives, including CEO Ethan Casson and COO Ryan Tanke, have departed following the sale. Kelly Laferriere, a leader at A-Rod Corp., will step in as interim head of business operations while a new team is built.
Despite the changes at the top, basketball leadership remains stable. Tim Connelly will continue as President of Basketball Operations, and the team denied the New York Knicks’ request to interview head coach Chris Finch.
As the Timberwolves look to maintain their competitive momentum—and possibly break ground on a new home—the Twin Cities will be watching. Will a new arena spark an NBA title run? Or just more arena politics?
Timberwolves new owners, Minnesota Timberwolves arena, Target Center replacement, Marc Lore A-Rod Timberwolves, Minnesota sports news, Twin Cities real estate, Darin Bjerknes Realtor, NBA Minnesota arena plans
