Minnesota Timberwolves fans were very excited to hear the news that Marc Lore and Alex Rodriguez are set to become the next majority owners. Monday’s arbitration ruling favored their interpretation of their agreement with current majority owner Glen Taylor.
Glen Taylor ends his roller-coaster tenure as majority owner after 31 years, owning the Wolves since 1994 and the Lynx since their inception in 1999. With the Wolves, we have seen failed draft picks, five first-round draft picks lost because of the Joe Smith scheme, drafting Ray Allen and then trading him for Stephon Marbury. Marbury left after three years due to jealousy over Kevin Garnett’s future contract, and the culture shock of living in Minnesota. In the 31 years of ownership, the Wolves have only made it to two Western Conference Finals.
Taylor has had some good moments in Minnesota. Drafting guys like Hall of Famer and one of the most prestigious Minnesota sports players ever Kevin Garnett, Nikola Pekovic, Karl Anthony Towns, and Zach Lavine.
This four-year sales process has finally concluded. Lore and Rodriguez have 90 days to complete the final payment for the sale. They say they have the remaining $950 payment in escrow and do not expect to have any issues with any of the remaining processes to complete the sale.
Here are four big challenges I think the new owners will face going forward. The Wolves have some good young talent but it will remain to be seen what this new regime wants to do and how aggressive they want to be.
Retire KG’s number
Retiring KG’s number is a must, and it should happen soon after the new owners officially take over. The Tension between Taylor and KG has been high ever since KG retired. KG called Taylor a “snake” and stated he’s not interested in having his number retired by the Timberwolves, as long as Glen Taylor owns the team. I’m sure this is high up on the to-do list for Lore and Rodriguez. It’s just a matter of time when Garnett’s number will go up in the rafters next to his late friend Malik Sealy.
New arena
A new, privately financed arena to replace the aging Target Center is being considered by Lore and Rodriguez’s ownership group, which includes former New York City Mayor Michael Bloomberg. According to The Athletic’s Jon Krawczynski, they’ve been scouting locations and hope to open a new building in Minneapolis by 2031, but face several challenges.
Target Center’s current lease runs through 2035, and breaking it would cost $50 million. Despite the ownership group’s reported plans for private financing, new arena projects often require some level of public funding. While public funding is frequently pursued for similar projects, the Minneapolis City Council has voiced doubts about contributing to a new NBA arena.
TV home
Last season, the Wolves and Diamond Sports Group, their parent company of the FanDuel Sports Networks, reached an agreement on a new one-year television contract through this season. But beyond that, there’s no clear television home for the Wolves or Lynx, and the Minnesota Twins recently ditched FanDuel Sports Network and are letting Major League Baseball produce their television broadcasts in 2025. Between a bankruptcy filing and fans having issues accessing the broadcasts on FanDuel Sports North, a new television home seems inevitable.
An interesting idea Lore and Rodriguez have floated is creating a television home for the Wolves, Lynx, and other regional sports teams, a similar concept to the YES Network created by the New York Yankees. They could also go a similar route the Ishbias did when they took over the Phoenix Suns and moved the broadcasts to local over-the-air television. While that move did leave millions in guaranteed revenue on the table, it also tripled the reach of Suns games in the market. What Lore and Rodriguez decide to do with the broadcasts will be one of the biggest early decisions, but one way or another, it seems the days on FanDuel are limited.
Business side
Taylor’s high-ranking officials started to take interviews elsewhere, it will be interesting to see what comes out of that. What will be the status of current Timberwolves president of basketball operations Tim Connelly, who has an opt-out clause he can exercise after the season? I would assume he would be here and eventually sign a long-term contract since he was hired by Lore and Rodriguez.
Julius Randle has a player option for next season, whether he opts in or out will determine if ownership wants to sign him to a long-term deal or let him walk. So far this season it hasn’t looked good with Randle here, but time will tell once Randle gets healthy and back out on the court.
Nickeil Alexander-Walker is due to be a free agent after this season, and Naz Reid has a player option for next year that he’s expected to decline. With the lack of draft picks and good young talent the Wolves will likely want to keep, looks like they will have to find someone that will fit in or break up the young core and make a splashy trade for someone like Kevin Durant.
There are some pressing issues the new ownership will face but Lore and Rodriguez have said they’re prepared to pay the luxury tax next season and beyond. Will they keep the young core or go for it all now and make some moves via trade?
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