Timberwolves, Lynx New Ownership Takes Big Step With Announcement on Wednesday

The new Minnesota Timberwolves and Lynx ownership has officially made their first big change.

Apr 22, 2025; Los Angeles, California, USA; Former MLB players Alex Rodriguez (right) attends game two of first round for the 2024 NBA Playoffs between the Los Angeles Lakers and the Minnesota Timberwolves at Crypto.com Arena. Mandatory Credit: Kiyoshi Mio-Imagn Images / Kiyoshi Mio-Imagn Images

The Minnesota Timberwolves and Minnesota Lynx made a huge change this summer, as Glen Taylor sold a $1.5 billion stake in the franchises to an investment group led by e-commerce entrepreneur Marc Lore and MLB legend Alex Rodriguez.

While there have been question marks around what this new ownership group will change about the pair of Minnesota NBA and WNBA franchises, their first big change became official on Wednesday.

Timberwolves, Lynx get new CEO

On Wednesday, the Timberwolves and Lynx announced a new CEO, Matthew Caldwell.

NEWS: The Minnesota @Timberwolves and @minnesotalynx Name Matthew Caldwell as CEO

Full release:https://t.co/apD8iCJNUL

— Lynx PR (@Lynx_PR) August 27, 2025

"The Minnesota Timberwolves and Lynx have named Matthew Caldwell as Chief Executive Officer of the organization, effective September 2. In this role, Caldwell will oversee day-to-day business operations and high-level strategic initiatives for the Timberwolves, Lynx, and Iowa Wolves," the franchises said in a press release.

Lore and Rodriguez have high hopes for the Minnesota organizations, and making big changes like this is a step in the right direction.

“Our vision is for the Timberwolves and Lynx to set a new standard of excellence in pro sports, and we’re confident that Matthew is the leader needed to make that a reality,” said Lore and Rodriguez. “Leading our organization into an innovative new era requires an exceptional individual at the helm, and Matthew’s proven track record leading the business of the Florida Panthers is undeniable. We can’t wait to see the remarkable impact his bold leadership will have on this organization.”

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Will more changes come?

The Athletic's Mike Vorkunov recently asked Rodriguez about what their plan for the Lynx is.

“With the W, it’s been running full speed ahead…So our job is to really kind of just get out of the way. Then the business is gonna have a lot more of our hands," Rodriguez said. "We’re gonna roll up our sleeves, hire a CEO, bring in a person that Marc and I feel has the same capability as Tim (Connelly), so we can copy and paste what we’ve done in basketball and do it in business, and then we should be off to the races.”

Of course, Rodriguez has already followed through with part of his plan by hiring a CEO, as the new ownership group solely wants to focus on the business side of things and let the basketball operations continue as is. And that is not a bad plan, considering the Lynx and Timberwolves have both been very successful recently.

These new changes will not impact anything Lynx fans notice on a daily basis, but things behind the scenes will be functioning differently.

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