Marc Stad completes deal for control of Lynx, Timberwolves
Marc Stad has completed a deal to become the controlling owner and largest shareholder of the Minnesota Timberwolves and Minnesota Lynx by buying the majority of Marc Lore's stake at a $4.5 billion valuation. Lore will retain a minority investment in the teams, while Alex Rodriguez will increase his equity percentages.
Lore stepped back from his co-owner and co-chairman role to focus on an IPO push for his food tech company, the Wonder Group, over the next calendar year. Stad, founder and managing partner of Dragoneer Investment Group, had been a significant minority investor in both teams under the Lore and Rodriguez ownership group.
The deal maintains the current leadership structures at both teams, including Timberwolves president Tim Connelly, general manager Matt Lloyd, coach Chris Finch and Lynx coach Cheryl Reeve, who also serves as the Lynx's president of basketball operations. The deal awaits approval from the NBA board of governors, which will meet Sept. 15-16.
Elisa Stad, Marc's wife, will serve as Timberwolves governor while Marc continues as managing partner for Dragoneer. Rodriguez will continue as alternate governor for the Timberwolves and governor of the Lynx. Elisa Stad co-founded the Stad Center for Pediatric Pain, Palliative & Integrative Medicine at University of California, San Francisco after a two-decade career building global consumer brands.
Marc Stad founded Dragoneer in 2012 and built it into one of the largest growth investment companies managing over $35 billion in capital, according to Forbes. He also joined the original ownership group in the NHL's Seattle Kraken in 2018 as a minority shareholder.
The $4.5 billion valuation puts the Timberwolves fourth on the list of largest franchise sales in NBA history, behind the $6.1 billion sale of the Boston Celtics in 2025 and two Lakers sales valued at $12.5 billion and $10 billion, respectively. Lore and Rodriguez bought into the Timberwolves in 2021 at a $1.5 billion valuation and took full control in June 2025.