Marc Lore and Alex Rodriguez are back on track to be the majority owners for the Timberwolves and Lynx after a three-person arbitration panel ruled in their favor on Monday that Glen Taylor was not within his rights to terminate the purchase agreement last spring.

Rodriguez and Lore announced the result in a statement in which which they said “the decision endorsed Lore and Rodriguez’ interpretation of the purchase agreement and confirmed that the contractually agreed timeline for Lore and Rodriguez to obtain NBA approval and complete their acquisition of the teams has not expired.”

In a statement, Taylor revealed it was a 2-1 decision in favor of Lore and Rodriguez.

Lore and Rodriguez initially reached an agreement with Taylor to purchase the Timberwolves and Lynx using a payment structure in which the two would buy 20 percent chunks of the team annually. It was framed at the time as an opportunity for Taylor to work with Lore and Rodriguez during the transition.

The sides worked together on major decisions involving the organization from there, such as when Lore and Rodriguez pursued Tim Connelly to head the team’s basketball operations and Taylor signed off on the hire. So, it was a stunner to the basketball world when Taylor announced last March that the purchase was off, citing missed deadlines from his supposed successors.

Lore and Rodriguez never felt as though they breached the contract, and took the legal action laid out in the initial purchase agreement. First, the two parties went to mediation. When that was unsuccessful, they went to arbitration.

Both sides laid out their arguments in November, and the decision was finally levied on Monday.

“Becky and I were disappointed by this 2-1 decision from the panel,” Taylor said in a statement. “We will review the decision thoroughly prior to making any further comment. We would like to express our sincere appreciation to Timberwolves and Lynx players, staff, and loyal fans for their support.”

Speaking to reporters in Cleveland, Timberwolves coach Chris Finch said he’s had “a great relationship” with all three owners.”

“I’ve been super blessed to work here, and they’ve been nothing but supportive in all of their own, individual ways and together, at times. So I’ll wait and see when it is official, etc,” Finch said. “But it hasn’t affected our basketball abilities, which is the most important thing, and all the ownership parties have been super mindful of that. It’s been a long process with a lot of angst on both sides, so the resolution of it is, overall, good for the club.”

Lore and Rodriguez are now on track to complete the purchase but still have another hurdle to clear — the final approval process. That includes a vote from the NBA’s Board of Governors. But they again are in position to claim a controlling stake in the organization after a contentious 11 months

“We are extremely pleased with today’s decision,” Lore and Rodriguez said in a statement. “We look forward to working with the NBA to complete the approval process and close this transaction so that we can turn our attention to winning championships in Minnesota for our incredible fans and the Twin Cities community.”