Glen Taylor has agreed to the Marc Lore-Alex Rodriguez group acquiring 100% ownership of the Minnesota Timberwolves and Minnesota Lynx at the same $1.5 billion price tag the sides reached in 2021, sources told ESPN.
As part of the agreement, Taylor decided not to appeal an arbitrators' ruling from February that ruled in favor Lore-Rodriguez in a dispute over the sale contract.
The NBA has started the transfer process, including ultimately holding a Board of Governors vote, sources said.
Lore and Rodriguez initially agreed to purchase the team from Taylor in 2021 in a three-part sale.