The long-running effort by Marc Lore and Alex Rodriguez to take control of the Minnesota Timberwolves appears to be nearing its conclusion, with current owner Glen Taylor deciding not to challenge an arbitration panel's ruling requiring him to proceed with the $1.5 billion sale. A source familiar with Taylor's choice confirmed it to The Associated Press, requesting anonymity as the Timberwolves had not made a public statement. ESPN was the first to report the news.

The final step remaining is the NBA board of governors granting approval, which is necessary before any team sale can be finalized. NBA Commissioner Adam Silver expressed confidence in February that the approval would go through, emphasizing the need for the board to follow standard procedures.

The board of governors may cast their vote at any time, having recently concluded a meeting in New York. While the next meeting is expected in the summer, they could act sooner to give their final approval for the sale.

Taylor, who will be 84 later this month, came from a Minnesota farm background and amassed his wealth through a wedding invitation printing business. He purchased the Timberwolves in 1994 for $88 million to prevent them from relocating to New Orleans. Lore, Walmart's former e-commerce leader, and Rodriguez, former baseball star, initiated a $1.5 billion deal four years ago, a time when NBA franchise values were soaring. The recent sale of the Boston Celtics set a record with an initial valuation of $6.1 billion.

Throughout the sale process, Lore and Rodriguez accused Taylor of changing his mind due to the escalating value of NBA teams.