The NBA's board of governors approved Marc Lore and Alex Rodriguez's first acquisition for 20% of the Timberwolves and Lynx, sources confirmed Tuesday.
The sale is expected to close in coming days as Lore and Rodriguez embark on their two-year path to becoming controlling owners of the Wolves and Lynx.
Tuesday's approval was largely a formality after Lore and Rodriguez met with the league's finance committee last week and the committee recommended approval of the sale to the board of governors.
This first sale does not make Lore and Rodriguez controlling owners yet, but it will formally bring them into the ownership group of the Wolves and Lynx.