Marc Stad takes controlling stake in Timberwolves, Lynx
Marc Stad has completed a deal to become the controlling owner and largest shareholder of the NBA's Minnesota Timberwolves and the WNBA's Minnesota Lynx by buying the majority of co-owner Marc Lore's stake in the two franchises. The deal is valued at $4.5 billion, sources told ESPN.
Lore will retain a minority investment in the teams, while co-owner Alex Rodriguez has decided to increase his equity stake, Rodriguez announced Friday, though it is not clear exactly how large Rodriguez's or Lore's shares will be at this time.
Stad, the founder and managing partner of Dragoneer Investment Group, had been a significant minority investor in the Timberwolves and Lynx under the ownership group of Lore and Rodriguez.
"We have been working together for years with a shared goal of building the Timberwolves and Lynx into the best organization in basketball on and off the floor," read a joint statement from Stad, Rodriguez and Lore issued Friday. "Our priority is and always will be championships. Our new agreement, pending league approval, is an evolution of the partnership we have built together and strengthening of our commitment to our team and our culture.
The NBA's board of governors are set to meet Sept. 15-16, at which time the league is expected to approve the deal. Stad's wife, Elisa Stad, will serve as the Timberwolves governor as Marc Stad continues as managing partner for Dragoneer, while Rodriguez will continue to serve as alternate governor for the Timberwolves and governor of the Lynx under the new arrangement.
The $4.5 billion valuation puts the Timberwolves fourth on the list of largest franchise sales in NBA history, behind only the $6.1 billion sale of the Boston Celtics and the two sales of the Los Angeles Lakers in the past year, which valued the team first at $10 billion and now at $12.5 billion. Lore and Rodriguez had bought into the Timberwolves in 2021 at a $1.5 billion valuation and officially took full control in June 2025.