Sources: Stad buys lead stake in T-Wolves, Lynx
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- Marc Stad completed a deal to become controlling owner and largest shareholder of the Timberwolves and Lynx, buying the majority of Marc Lore's stake at a $4.5 billion valuation — the fourth-largest franchise sale in NBA history, behind the Celtics ($6.1B, 2025) and two Lakers sales ($12.5B and $10B).
- Marc Lore retains a minority investment and steps back from his co-chairman role to focus on the IPO push for his food tech company, Wonder Group, over the next calendar year; Alex Rodriguez is increasing his equity percentages, though final ownership splits remain undisclosed.
- The deal awaits NBA board of governors approval at its Sept. 15-16 meetings; current basketball leadership stays intact, including president Tim Connelly, GM Matt Lloyd, coach Chris Finch, and Lynx coach Cheryl Reeve, who also serves as president of basketball operations.
- Elisa Stad, Marc's wife, will serve as Timberwolves governor while Marc continues running Dragoneer Investment Group (founded 2012, now managing over $35 billion); Rodriguez continues as alternate governor for the Wolves and governor of the Lynx.
- Since the Lore-Rodriguez group bought in at a $1.5 billion valuation in 2021 and took full control in June 2025, the Timberwolves have made the playoffs every season, winning five playoff series this decade versus just two in their entire prior history, and reaching the conference finals in both 2024 and 2025.
- This offseason Minnesota acquired LaMelo Ball from Charlotte for an All-Star backcourt with Anthony Edwards and were one of four finalists for LeBron James, who signed with Philadelphia for the minimum salary Minnesota could have offered.
- The Target Center is the NBA's second-oldest arena behind Madison Square Garden, and ownership has been working with the city of Minneapolis on plans for a replacement facility.
Why it matters: Timberwolves fans get continuity: the same front office, coaching staff, and ownership culture remain in place as Stad formalizes control rather than disrupting operations. The $4.5 billion valuation triples the 2021 buy-in price of $1.5 billion and ranks fourth-largest in NBA history, cementing Minnesota among the league's priciest franchises and giving the new ownership deeper capital to fund the looming arena project and luxury-tax roster.
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