Marc Lore has agreed to sell his controlling stake in the Minnesota Timberwolves and Minnesota Lynx to investor Marc Stad at a $4.5 billion valuation. The transaction comes barely a year after Lore and Alex Rodriguez finalized their own long-disputed purchase of the NBA and WNBA franchises.
Marc Stad Takes Controlling Stake at $4.5 Billion Valuation
The ownership structure of the Minnesota Timberwolves and WNBA’s Minnesota Lynx is shifting once again according to KSTP reporting. Businessman Marc Stad is stepping in as the controlling owner and largest shareholder of the franchises. ESPN sources cited by local outlets indicate that Stad is acquiring the stakes at a $4.5 billion valuation, which marks a significant jump from the purchase price paid to former owner Glen Taylor.
Stad brings substantial venture capital background to the table. Forbes lists Stad as the founder and managing partner of Dragoneer Investment Group, overseeing more than $35 billion in assets. Axios confirmed that the transaction is being executed through Stad’s family office rather than involving private equity capital from his firm.
The Transition from Lore and Rodriguez to Stad
The agreement puts Marc Lore and partner Alex Rodriguez into a different posture shortly after clearing their own legal hurdles. Lore, a serial entrepreneur and former Walmart executive, along with former Major League Baseball star Rodriguez, finally secured control of the teams in June 2025 following a protracted four-year dispute with Glen Taylor.
Under the new terms, Lore and Rodriguez will remain limited partners. Lore is reducing his position to focus on the initial public offering process for his Wonder Group enterprise, while Rodriguez’s stake is slated for a slight increase. Stad was previously a limited partner within their ownership group, meaning the transaction represents a direct swap of controlling roles between Lore and Stad.
Leadership Continuity and League Approval Requirements
The deal remains subject to formal evaluation and approval from the NBA Board of Governors. When finalized, Stad’s wife, Elisa Stad, is expected to step in as the primary governor and formal leader of the Timberwolves, while Rodriguez will maintain his role as governor of the Lynx.
In a joint announcement released alongside the news, the incoming and outgoing partners emphasized stability across the basketball operations departments. The stakeholders confirmed that they will continue working closely with chief executive officer Matt Caldwell, Timberwolves president of basketball operations Tim Connelly, Timberwolves head coach Chris Finch, and Lynx president of basketball operations and head coach Cheryl Reeve.
Broader Ownership Shifts Across Professional Basketball
The agreement lands amid a period of high-value transactions across professional basketball. The Timberwolves agreement follows a deal where Mark Walter agreed to sell the Los Angeles Lakers to Joshua Kushner and Bob Iger at a $12.5 billion valuation. However, sources familiar with the Timberwolves negotiations clarified that the agreement with Stad had been developing over several months and was not a direct reaction to movement in Los Angeles.
As the franchises prepare for league review, leadership faces ongoing strategic decisions, including the long-term facility landscape. The organization’s lease at the Target Center runs through 2035, and ownership has previously addressed the financial and logistical complexities required to pursue a new arena in Minneapolis.
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