Marc Stad acquires controlling stake in Minnesota Timberwolves for $4.5bn
American businessman Marc Stad has acquired a controlling stake in the Minnesota Timberwolves and Minnesota Lynx in a deal valuing the basketball franchises at $4.5bn.
The Dragoneer Investment Group founder assumes majority control by purchasing a significant portion of outgoing co-owner Marc Lore’s equity.
Lore will retain a minority investment, while former baseball star Alex Rodriguez has elected to increase his own financial commitment.
The lucrative transaction now awaits formal approval from the NBA Board of Governors during their upcoming September meetings.
Leadership reshuffle and strategic focus
Lore has opted to step back from his co-chairman responsibilities to concentrate on floating his food-technology company on the stock market.
The departing principal owner believes that transferring the reins offers the Minneapolis-based organisations the greatest opportunity for sustained success.
Under the newly restructured hierarchy, Elisa Stad will assume duties as the primary governor for the NBA franchise.
Meanwhile, Rodriguez will continue acting as alternate governor for the men’s team whilst serving as the primary governor for the WNBA side.
Record valuation and ownership history
The agreed $4.5bn valuation currently ranks as the fourth-largest franchise sale in the history of the league.
It trails only the recent $6.1bn acquisition of the Boston Celtics and two separate high-value transactions involving the Los Angeles Lakers.
This boardroom transition arrives shortly after a protracted and highly publicised dispute with former owner Glen Taylor.
Lore and Rodriguez initially entered the Western Conference setup in 2021 at a $1.5bn valuation before finally wrestling full control in June 2025.
Continuity for basketball operations
Despite the significant structural changes above them, the existing sporting leadership will remain entirely intact.
President of basketball operations Tim Connelly and general manager Matt Lloyd are set to continue guiding the front office.
On the court, head coach Chris Finch remains firmly in charge of the men’s squad.
Highly decorated coach Cheryl Reeve will also maintain her dual role leading the Lynx both on the sidelines and in the executive suite.