Timberwolves and Lynx valued at $4.5bn in ownership change
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- Marc Stad moved from minority investor to controlling owner of the Timberwolves and Lynx, purchasing the majority of co-chairman Marc Lore's stake.
- The combined franchise valuation of $4.5bn (£3.3bn) makes this the fourth-largest franchise sale in NBA history, per ESPN.
- Alex Rodriguez confirmed the news Friday and said he is increasing his investment, serving as co-chairman, Governor of the Lynx, and alternate Governor of the Timberwolves pending league approval.
- Marc Lore and Alex Rodriguez initially bought the teams in 2021 at a $1.5bn (£1.1bn) valuation, assuming full control last year.
- The deal marks the second major NBA ownership change this month, following the record-breaking LA Lakers sale last week.
- The Timberwolves reached the Western Conference finals last season but lost to the San Antonio Spurs.
Why it matters: The $4.5bn valuation triples the $1.5bn price tag Lore and Rodriguez paid in 2021, illustrating how NBA franchise values have escalated in four years. With Stad now controlling owner and Rodriguez deepening his stake, the deal caps a week of major NBA ownership reshuffling.
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