Stad Completes $4.5 Billion Purchase of Timberwolves, Lynx.
Marc Stad will become controlling owner of the Timberwolves and Lynx, buying the majority of Marc Lore's stake at a $4.5 billion valuation. Lore will retain a minority position; co-owner Alex Rodriguez will increase his equity.
- $4.5 billion ranks fourth in NBA franchise sale history, per ESPN.
- Lore and Rodriguez originally bought into the team in 2021 at a $1.5 billion valuation.
- Stad founded Dragoneer Investment Group, which manages over $35 billion in capital.
- Elisa Stad will serve as Timberwolves governor; Rodriguez will remain alternate governor.
Why it matters: Both Minnesota franchises are changing hands at a competitive and logistical inflection point. The Timberwolves acquired LaMelo Ball this offseason and have reached the playoffs five straight seasons.
- Target Center is the second-oldest arena in the NBA; ownership has been in talks with Minneapolis on a new facility.
- Lore chose to step back to focus on an IPO push for his food-tech company, Wonder Group.
How 9 sources split on this story
Center coverage, 6 sources: The center treats it as a straightforward business transaction, focusing on the ownership mechanics — who owns what, why Lore is stepping back, and what leadership continuity looks like.
ESPN5hSources: Stad completes deal for lead stake in Timberwolves, Lynx - ESPNKSAKSAT 12 San Antonio4hT-wolves, Lynx co-owner Lore agrees to sell his controlling stake at a $4.5B value, AP source says
Heavy2hTimberwolves’ Alex Rodriguez Makes Major Announcement After $4.5 Billion Ownership Shakeup
Newsweek1hAlex Rodriguez announces increased role with Timberwolves, Lynx after sale
Reuters5hReports: Marc Stad purchases lead stake in Wolves, Lynx
USA Today1hMarc Lore selling majority stake in Timberwolves, Lynx to Marc StadLeft coverage, 1 sources: The left frames the deal as a milestone for both franchises, emphasizing the Lynx's championship pursuit and the broader wave of billion-dollar NBA transactions this month.
Right coverage, 2 sources: The right emphasizes the deal's place in the hierarchy of NBA sales, the contrast with the record-breaking Lakers price, and what the transition means for Rodriguez's role.
What’s next: The NBA board of governors will vote on the deal at meetings Sept. 15-16.
- The board will also vote on the $12.5 billion Lakers sale to Bob Iger and Josh Kushner.
- What percentage of the franchises Lore and Rodriguez will each own once the deal closes has not been disclosed.
- Whether the new ownership structure accelerates or changes plans for a new Minneapolis arena remains unclear.