Marc Lore has agreed to sell his controlling stake in the Minnesota Timberwolves and Lynx to limited partner Marc Stad at a $4.5 billion valuation, according to a person with knowledge of the deal speaking to The Associated Press on condition of anonymity. The transaction, finalized barely a year after Lore’s purchase of the franchises, marks the second major NBA sale in a single month following the Los Angeles Lakers’ $12.5 billion valuation deal struck by Mark Walter, Bob Iger, and Josh Kushner, as reported by nbcnewyork.com.
Ownership Shakeup and Role Swap in Minnesota
Lore and Stad are essentially swapping roles within the ownership group, according to sources speaking to The Associated Press. Lore, a New York e-commerce entrepreneur, originally purchased the teams alongside former Major League Baseball star Alex Rodriguez from Minnesota businessman Glen Taylor through a four-year process that concluded with $1.5 billion league approval in June 2025. Stad, the founder of the California-based technology investment firm Dragoneer Investment Group, was previously a limited partner in the franchises. Rodriguez will remain as a co-owner, while Lore retains a limited share.
According to a second source familiar with the situation who spoke to The Associated Press anonymously, Lore’s decision to divest his majority stake stems from his focus on his food delivery startup, Wonder, which he has started taking public. Despite the ownership shift, Lore, Rodriguez, and Stad released a joint statement expressing their collective commitment to the current organizational leadership, which includes 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.
Did You Know?
The valuation of the Timberwolves and Lynx has tripled in the five years since Lore first began purchasing the team in 2021, according to financial tracking highlighted by CBS Sports.
Franchise Valuations and the Trend of Flipping Teams
The sale highlights a broader trend across the NBA, where franchises have seen valuations skyrocket due to lucrative media rights agreements, such as the league’s $77 billion national TV deal reported by CBS Sports. Ten teams—including the Lakers, Celtics, Trail Blazers, Timberwolves, Mavericks, Rockets, Suns, Hornets, Jazz, and Nets—have changed hands over the past decade. This shift treats sports franchises less as traditional vanity projects and more as key business holdings.
According to The Athletic via CBS Sports, Stad is fully committed to keeping both the Timberwolves and Lynx in Minnesota and will continue the push to build a new arena. The teams currently play at Target Center, which opened in 1990. While small-market clubs often face fan anxiety regarding stability and potential relocation when ownership groups shift, local leadership remains focused on long-term competitiveness.
On-Court Success and Leadership Continuity
On the court, the Timberwolves and Lynx enter this new ownership phase with strong competitive momentum. The Lynx lead the WNBA under star Napheesa Collier and rookie Olivia Miles, building on a history that includes four championships since joining the league as an expansion club in 1999. Meanwhile, the Timberwolves have transformed into one of the Western Conference’s premier teams since drafting Anthony Edwards first overall in 2020, hiring Finch in 2021, and bringing in Connelly in 2022. The franchise reached the Western Conference Finals in 2024 and 2025, made a deep playoff run last season, and recently acquired point guard LaMelo Ball in a major summer trade.
Frequently Asked Questions
Who is buying Marc Lore’s controlling stake in the Timberwolves and Lynx?
Limited partner and Dragoneer Investment Group founder Marc Stad is purchasing Lore’s majority stake at a $4.5 billion valuation, according to The Associated Press.
What role will Alex Rodriguez play following the sale?
Alex Rodriguez will remain as a co-owner of the franchises and continue to serve as the most publicly visible owner, as reported by The Associated Press and CBS Sports.
Why is Marc Lore selling his majority stake so soon?
According to sources speaking to The Associated Press, Lore is selling to focus on his food delivery startup, Wonder, which he is in the process of taking public.
Will the Timberwolves and Lynx remain in Minnesota?
Yes. According to reports from The Athletic cited by CBS Sports, the new ownership group remains committed to keeping the teams in Minnesota and pursuing a new arena project.
Stay Updated on NBA Ownership and Team News
Explore our latest coverage on franchise valuations, player trades, and league developments. Drop a comment below with your thoughts on the Timberwolves’ ownership transition, or subscribe to our newsletter for real-time updates.
Worth a look