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The Minnesota Timberwolves and the WNBA's Minnesota Lynx have a new controlling owner. Businessman Marc Stad has acquired the majority of Marc Lore's shares in both teams at a valuation of $4.5 billion, according to ESPN's Shams Charania. This move comes just a year after Lore and Alex Rodriguez took control from longtime owner Glen Taylor.
The deal, which still requires approval from the NBA Board of Governors, will see Stad's wife, Elisa, serve as the Timberwolves' governor, while Rodriguez will continue as the Lynx's governor. Lore will remain a minority owner but is stepping back to focus on his company, Wonder Group's initial public offering. Rodriguez, meanwhile, has increased his stake in the teams.
Marc Stad, founder of Dragoneer Investment Group, has been a significant minority investor in the Timberwolves and Lynx. KSTP Sports reports that Stad's acquisition marks a significant return on investment for Lore and Rodriguez, who bought the team at a $1.5 billion valuation.
The Timberwolves have been successful in recent years, reaching the playoffs in each of the last five seasons. Under the leadership of Tim Connelly, the team has made strategic trades, including acquiring LaMelo Ball, to bolster their roster. However, the team's lease with the Target Center, the NBA's second-oldest arena, runs only through 2035, prompting discussions about a new arena.
Stad's acquisition places the Timberwolves' sale as one of the largest in NBA history. KRFO Radio notes that Stad's net worth ranges between $500 million and $1.5 billion, ranking him 42nd on Forbes' 2026 Midas List of top tech and venture capital investors.