American businessman Marc Stad has accomplished a deal to turn out to be the controlling proprietor and largest shareholder of the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx by shopping for the vast majority of co-owner Marc Lore’s stake within the two franchises.
The deal is valued at $4.5 billion, sources advised ESPN.
Lore will retain a minority funding within the groups, whereas co-owner Alex Rodriguez has determined to extend his fairness stake, the previous MLB star introduced Friday, although it isn’t clear precisely how massive Rodriguez’s or Lore’s shares will probably be right now.
Lore determined to take a step again from his co-owner and co-chairman function to give attention to the IPO push for his meals tech firm, the Marvel Group, over the following calendar yr, believing altering possession seats with Stad gave the Timberwolves the most effective alternative for continued success.
Stad, the founder and managing accomplice of Dragoneer Funding Group, had been a big minority investor within the Timberwolves and Lynx beneath the possession group of Lore and Rodriguez. Sources mentioned the switch of possession developed after months of conversations and allowed Stad, Rodriguez and Lore to proceed working collectively and keep the present management constructions of the Timberwolves and the Lynx, together with Timberwolves president Tim Connelly, basic supervisor Matt Lloyd and coach Chris Finch and Lynx coach Cheryl Reeve, who additionally serves because the Lynx’s president of basketball operations.
“We’ve got been working collectively for years with a shared objective of constructing the Timberwolves and Lynx into the most effective group in basketball on and off the ground,” learn a joint assertion from Stad, Rodriguez and Lore issued Friday. “Our precedence is and at all times will probably be championships. Our new settlement, pending league approval, is an evolution of the partnership we now have constructed collectively and strengthening of our dedication to our staff and our tradition.
“Whereas we’re pleased with the good work we have performed, there’s a lot extra to do and we’re simply getting began.”
The NBA’s board of governors are set to satisfy Sept. 15-16, at which period the league is predicted to approve the deal.
In a publish on X, Rodriguez mentioned that being a part of the Timberwolves and Lynx possession group has been one of many “nice joys” of his skilled life, including that he feels “energized” by Friday’s developments.
One of many nice joys I’ve had in my profession is spending the previous few years serving to construct the Timberwolves and Lynx with my good friend and accomplice Marc Lore. I am very excited to announce that this unimaginable journey reaches a brand new stage immediately. Marc and Elisa Stad, who’ve been our…
— Alex Rodriguez (@AROD) August 21, 2026
The $4.5 billion valuation places the Timberwolves fourth on the record of largest franchise gross sales in NBA historical past, behind solely the $6.1 billion sale of the Boston Celtics in 2025 and the 2 gross sales of the Los Angeles Lakers previously yr, which valued the staff first at $10 billion and now at $12.5 billion.
Stad’s spouse, Elisa Stad, will function the Timberwolves governor as Marc Stad continues as managing accomplice for Dragoneer. Rodriguez will proceed to function alternate governor for the Timberwolves and governor of the Lynx beneath the brand new association. Elisa Stad co-founded College of California, San Francisco’s Stad Middle for Pediatric Ache, Palliative & Integrative Drugs after a two-decade profession constructing world shopper manufacturers.
Marc Stad based Dragoneer in 2012 and constructed the agency into one of many largest development funding firms, which now manages over $35 billion in capital, in response to Forbes. He additionally joined the unique possession group within the NHL’s Seattle Kraken in 2018 as a minority shareholder, holding shut relationships with proprietor Samantha Holloway and her father, the late David Bonderman.
Lore and Rodriguez purchased into the Timberwolves in 2021 at a $1.5 billion valuation, with an settlement to finally buy the staff in full from earlier proprietor Glen Taylor, who later tried to cease the switch of the staff. Lore and Rodriguez formally took full management in June 2025, and re-upped their dedication to holding the franchise in Minnesota. Nevertheless, the Goal Middle is the second-oldest constructing within the NBA (behind solely Madison Sq. Backyard), and possession has been working with town of Minneapolis on plans for a brand new enviornment.
The Timberwolves have reached the playoffs in every of the 5 seasons since Lore and Rodriguez purchased into the staff, advancing past the primary spherical in every of the previous three seasons. Lore and Rodriguez went into the luxurious tax in each 2024-25 and 2025-26 because the Wolves proved to be a contender within the Western Convention. Earlier than the Lore-Rodriguez period, the Timberwolves had received solely two playoff sequence in franchise historical past, each in 2004. They’ve received 5 playoff sequence this decade, advancing to the convention finals in each 2024 and 2025.
This offseason, after Minnesota took a step again and was eradicated within the convention semifinals, possession empowered Connelly to make a huge commerce for Charlotte Hornets star LaMelo Ball, creating an All-Star backcourt with Ball and Anthony Edwards. Minnesota was additionally one among 4 finalists for all-time main scorer LeBron James, who selected to signal with the Philadelphia 76ers for a similar minimal wage Minnesota might have provided. The Timberwolves are projected to be a taxpaying staff once more this season for the third straight yr.
The Lynx have persistently been among the many league’s finest beneath Reeve, their longtime coach, who has guided the membership to 4 WNBA titles. This season, behind Napheesa Collier, Kayla McBride and rookie MVP candidate Olivia Miles, the Lynx have the most effective document within the WNBA (31-7).
Minnesota is the primary staff in WNBA historical past to achieve 30 wins in three straight seasons, in response to ESPN Analysis, and the Lynx are 16-1 of their previous 17 video games. Miles has the second-shortest odds to win MVP at +900 behind the closely favored A’ja Wilson at -1000. Miles is the second rookie in league historical past with 600 factors and 200 assists in a season, becoming a member of the Indiana Fever‘s Caitlin Clark (2024), in response to ESPN Analysis.