After 30 years under Glen Taylor’s ownership, Minnesota has new leadership as the long-drawn-out sale process is finally complete. While Taylor agreed to the sale in 2021, the process became contentious and went through arbitration after Taylor attempted to cancel the deal in March 2024.
Last month, the NBA Board of Governors approved the sale of the Minnesota Timberwolves to an investment group led by e-commerce entrepreneur Marc Lore and MLB legend Alex Rodriguez, fulfilling a dream Rodriguez first envisioned 29 years ago. As the 14-time MLB All-Star becomes the first Hispanic owner in the NBA, he made sure to credit those who inspired him along the way.
How Did Magic Johnson Shape Alex Rodriguez’s NBA Ownership Dreams?
Rodriguez’s Dominican descent makes him both the first Hispanic owner and a Black owner in the NBA. This “Black and brown” representation is something Rodriguez takes immense pride in.
When asked if it was important to represent “Black and brown” in his basketball ownership, Rodriguez told Andscape: “Yes. That is what I do. I represent both. And the reason why I am here is because I saw Magic [Johnson] wearing a suit and tie. I said, ‘That was a guy I can relate to. He looks like me. He came from the bottom like me.'”
Johnson had his own plans of acquiring the Timberwolves as part of an African-American led ownership group back in 1994, but when the plan didn’t come to fruition, he instead chose to become a minority owner of the Los Angeles Lakers.
Although Johnson didn’t end up purchasing the Timberwolves, his minority stake ignited the desire for NBA ownership in Rodriguez. That desire finally came to fruition in June 2025.
“I can’t put myself in his shoes. But when Magic [became a Los Angeles Lakers minority owner], it kind of ignited my vision. ‘Why not me? Why not you? Why not us?’ I’d like to affect one person to say, ‘This is a guy who is a former athlete who has been through some ups and downs, course-corrected and is someone who can lead others to their dreams,'” Rodriguez said.
A full circle moment stepping on stage with my hero and mentor @MagicJohnson today. More than 25 years ago, I asked for a 30-minute meeting with Magic. 3 hours and 9 pages of notes later, I soaked up every piece of business advice he gave me. Because of him, I’m able to be on… pic.twitter.com/i9TjMv1S7N
— Alex Rodriguez (@AROD) May 7, 2025
Back in 1996, a 21-year-old Rodriguez sat down with Johnson, who retired from the NBA that same year. In a conversation that lasted for three-and-a-half hours, Johnson shared his financial wisdom and business insights, something Rodriguez believes played a crucial role in his eventual acquisition.
“When I was 21 years old, Magic sat with me. I was supposed to have 30 minutes,” said the former New York Yankees star.
“And that 30 minutes went to about 3 1/2 hours and nine pages of notes. I asked him a few years later, ‘Magic why did you give me three-plus hours?’ And he said, ‘Because you came in, you were focused, you were making eye contact and you were engaged. I saw your passion. I saw you writing all those notes.’ The main thing he said is, ‘When you do your thing, your obligation is to pass it down to the next generation of us.'”
The $1.5 billion package also includes Minnesota’s WNBA and G-League affiliates, the Minnesota Lynx and the Iowa Wolves. Lore and Rodriguez now own an 80% stake and serve as co-chairmen on the board, with Lore as Timberwolves governor and Rodriguez as alternate governor. For the Lynx, Rodriguez serves as governor while Lore serves as the alternate governor.
