Marc Stad takes controlling stake in Lynx, Timberwolves
Marc Stad has completed a deal to become the controlling owner and largest shareholder of the NBA's Minnesota Timberwolves and WNBA's Minnesota Lynx by purchasing the majority of co-owner Marc Lore's stake in the franchises. The deal is valued at $4.5 billion, sources told ESPN. Lore will retain a minority investment, while co-owner Alex Rodriguez will increase his equity percentages.
Lore stepped back from his co-owner and co-chairman role to focus on the IPO push for his food tech company, the Wonder Group, over the next calendar year. Stad was previously a significant minority investor in both teams under the Lore-Rodriguez ownership group.
The NBA's board of governors is set to meet Sept. 15-16, when the league is expected to approve the deal. The $4.5 billion valuation ranks the Timberwolves fourth in largest franchise sales in NBA history, behind the $6.1 billion sale of the Boston Celtics in 2025 and the Los Angeles Lakers sales valued at $12.5 billion and $10 billion.
Stad's wife, Elisa Stad, will serve as the Timberwolves governor. Marc Stad founded Dragoneer in 2012 and built the firm into one of the largest growth investment companies, which now manages over $35 billion in capital. He also joined the original ownership group in the NHL's Seattle Kraken in 2018 as a minority shareholder.
The Lynx have the best record in the WNBA at 30-7 this season under coach Cheryl Reeve, who has guided the club to four WNBA titles. Rookie Olivia Miles is a MVP candidate with the second-shortest odds at +900, behind A'ja Wilson at -1000, and is the second rookie in league history with 600 points and 200 assists in a season, joining Caitlin Clark of the Indiana Fever in 2024.