Marc Lore and Alex Rodriguez will be formally approved by the NBA as the new owners of the Minnesota Timberwolves in June. Sources tell The Athletic that they will be much more aggressive in their investment on the business side of the team and will formulate plans for a new arena. The partners want to keep the Wolves in Minnesota as the team is booming in popularity locally after two straight trips to the Western Conference Finals.
Target Center, which opened in 1990, is the NBA's second oldest arena after Madison Square Garden. The arena underwent a $145 million renovation in 2017.
Lore and Rodriguez were scheduled to take over the Wolves last year, but Glen Taylor attempted to back out of the sale over late payments. An arbitrator eventually ruled in favor of Lore and Rodriguez.