Marc Stad buys Marc Lore’s controlling stake in Timberwolves and Lynx

The Minnesota Timberwolves and Minnesota Lynx are getting a new owner, after Marc Lore sold his majority share in the franchises at a $4. 5 billion valuation.

Just 14 months after his purchase of the Minnesota Timberwolves was approved, Marc Lore is selling his majority stake to businessman Marc Stad.

Stad bought Marc Lore’s stake to gain controlling interest in the Lynx and Wolves.

MINNEAPOLIS (AP) — Minnesota Timberwolves and Lynx co-owner Marc Lore has agreed to sell his controlling stake in the franchises to limited partner Marc Shad at a $4.5 billion value barely a year after his purchase was finalized, according to a person with knowledge of the deal.The person spoke Friday to The Associated Press on condition of anonymity because details of the agreement were not being publicized.Lore, a New York e-commerce entrepreneur, and partner Alex Rodriguez, the former Major League Baseball star, bought the NBA and WNBA clubs from Minnesota businessman Glen Taylor. That complicated and contentious process lasted more than four years until the $1.5 billion sale got league approval in June 2025.Lore and Shad are essentially swapping roles, the person said. Rodriguez will remain as a co-owner. Lore, Rodriguez and Shad issued a joint statement Friday expressing their commitment to the current leadership in the organization including 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.___AP Basketball Writer Tim Reynolds contributed. ___See AP’s full NBA coverage here

Ownership of the Minnesota Timberwolves is changing hands after Marc Stad completed a deal to become the franchise’s controlling owner. According to ESPN’s Shams Charania, Stad bought Marc Lore’s controlling stake at a $4.

Stad will become the controlling owner after buying the majority of co-owner Marc Lore's stake

In a stunning change, the Timberwolves and Lynx now have a new majority owner.

Minnesota’s NBA and WNBA franchises sold for $1.5 billion last year. Lore is now reportedly selling his majority stake at a $4.5 billion valuation.

MINNEAPOLIS — Marc Lore is selling his controlling interest in the Minnesota Timberwolves and Minnesota Lynx to limited partner and Dragoneer Investment Group founder and managing partner Marc Stad at a $4.5 billion valuation, team sources told The Athletic, facilitating the NBA’s second abrupt ownership shift in a week. Lore will remain a part of the ownership group in a limited role, but he is stepping away from his role as governor to focus on taking Wonder, his food delivery and takeout busi

Alex Rodriguez, who has served as co-chairman with Lore, is remaining in his role with the two teams.