Marc Lore is selling his controlling interest in the Minnesota Timberwolves and Minnesota Lynx to Marc Stad at a reported $4.5 billion valuation, according to team sources cited by multiple outlets. The transaction represents another change in NBA and WNBA ownership within a short span.
Under the reported terms, Lore is set to remain involved with the franchises in a limited ownership role. Yahoo Sports also reports that he is stepping away from his role as governor, while Alex Rodriguez—who has served as co-chairman with Lore—is expected to stay in his position with the two teams.
The outlets agree on the core details: Lore is transferring his controlling stake, the buyer is Marc Stad, and the deal is valued at $4.5 billion. The reports differ slightly in emphasis, with some focusing on the broader pace of ownership changes and others noting Minnesota’s recent history of major team sales.
