Major Shake-Up: Stad Acquires Controlling Interest in NBA's Timberwolves, WNBA's Lynx

American businessman Marc Stad has finalized a significant deal to become the controlling owner and largest shareholder of the NBA's Minnesota Timberwolves and the WNBA's Minnesota Lynx. This acquisition involves purchasing the majority of co-owner Marc Lore's stake in the two franchises, in a transaction valued at $4.5 billion, as sources informed ESPN. While Lore will retain a minority investment in the teams, former MLB star Alex Rodriguez has opted to increase his equity stake, though the precise sizes of Rodriguez's or Lore's shares post-deal are currently undisclosed.

Marc Lore's decision to step back from his co-owner and co-chairman role is driven by his focus on the upcoming IPO push for his food tech company, the Wonder Group, over the next calendar year. He believes that transferring ownership seats to Stad offers the Timberwolves the best opportunity for sustained success. Stad, the founder and managing partner of Dragoneer Investment Group, was already a significant minority investor in the Timberwolves and Lynx under the previous ownership group led by Lore and Rodriguez.

Sources indicate that the ownership transfer was the result of months of discussions, designed to allow Stad, Rodriguez, and Lore to continue their collaboration and maintain the current leadership structures of both teams. This includes key personnel such as Timberwolves president Tim Connelly, general manager Matt Lloyd, coach Chris Finch, and Lynx coach Cheryl Reeve, who also serves as the Lynx's president of basketball operations. A joint statement issued Friday by Stad, Rodriguez, and Lore emphasized their shared objective: "We have been working together for years with a shared goal of building the Timberwolves and Lynx into the best organization in basketball on and off the floor. Our priority is and always will be championships. Our new agreement, pending league approval, is an evolution of the partnership we have built together and strengthening of our commitment to our team and our culture." They also expressed pride in their achievements while acknowledging "there's so much more to do and we're just getting started." The deal is expected to receive approval from the NBA's board of governors during their meeting on September 15-16.

Alex Rodriguez expressed his enthusiasm on X, stating that being part of the Timberwolves and Lynx ownership group has been one of the "great joys" of his professional life and that he feels "energized" by the recent developments. The $4.5 billion valuation places the Timberwolves fourth among the largest franchise sales in NBA history, surpassed only by the $6.1 billion sale of the Boston Celtics in 2025 and two recent sales of the Los Angeles Lakers, valued at $10 billion and then $12.5 billion.

Under the new arrangement, Marc Stad's wife, Elisa Stad, will assume the role of Timberwolves governor, while Marc Stad will continue as managing partner for Dragoneer. Alex Rodriguez will serve as alternate governor for the Timberwolves and governor of the Lynx. Elisa Stad co-founded the University of California, San Francisco's Stad Center for Pediatric Pain, Palliative & Integrative Medicine, following a two-decade career in global consumer brands. Marc Stad founded Dragoneer in 2012, growing it into one of the largest growth investment companies managing over $35 billion in capital, according to Forbes. He also held a minority shareholder stake in the NHL's Seattle Kraken since 2018, maintaining close ties with owner Samantha Holloway and her late father, David Bonderman.

Lore and Rodriguez initially invested in the Timberwolves in 2021 at a $1.5 billion valuation, with an agreement to eventually purchase the team entirely from former owner Glen Taylor, who later attempted to halt the transfer. They officially gained full control in June 2025 and reiterated their commitment to keeping the franchise in Minnesota. However, with the Target Center being the second-oldest NBA arena (after Madison Square Garden), the ownership group has been collaborating with the city of Minneapolis on plans for a new facility.

Under the Lore-Rodriguez era, the Timberwolves have seen significant on-court success, reaching the playoffs in each of the five seasons since their initial investment and advancing beyond the first round in the last three seasons. They entered the luxury tax in both the 2024-25 and 2025-26 seasons, establishing themselves as a Western Conference contender. This marks a stark contrast to the pre-Lore-Rodriguez period, during which the Timberwolves had won only two playoff series in their entire franchise history, both in 2004. In the current decade, they have secured five playoff series victories, reaching the conference finals in both 2024 and 2025. Following their elimination in the conference semifinals this past offseason, ownership empowered Tim Connelly to execute a major trade for Charlotte Hornets star LaMelo Ball, forming an All-Star backcourt alongside Anthony Edwards. Minnesota was also one of four finalists for all-time leading scorer LeBron James, though he ultimately signed with the Philadelphia 76ers for the same minimum salary offer. The Timberwolves are projected to be a taxpaying team for the third consecutive season this year.

The Minnesota Lynx, under longtime coach Cheryl Reeve, have consistently been among the WNBA's elite, guiding the club to four WNBA titles. This season, led by Napheesa Collier, Kayla McBride, and rookie MVP candidate Olivia Miles, the Lynx boast the best record in the WNBA at 30-7. According to ESPN Research, Minnesota is the first team in WNBA history to achieve 30 wins in three consecutive seasons, and they are currently 15-1 in their last 16 games. Olivia Miles holds the second-shortest odds to win MVP at +900, behind the heavily favored A'ja Wilson at -1000. ESPN Research also notes that Miles is only the second rookie in league history to accumulate 600 points and 200 assists in a season, joining the Indiana Fever's Caitlin Clark (2024).