Marc Lore is selling his majority stake in the Minnesota Timberwolves and Minnesota Lynx to billionaire tech investor Marc Stad at a $4.5 billion valuation. The transaction, which shifts Stad from a minority investor to the controlling owner, marks the second major NBA ownership shakeup in a span of just over a week.
The $4.5 Billion Majority Stake Transfer
The ownership landscape in the Twin Cities is shifting once again. Just over a year after Marc Lore and Alex Rodriguez assumed full control of the franchises following a protracted arbitration battle with former owner Glen Taylor, control of the hardwood is changing hands.
Marc Stad, the founder and managing partner of Dragoneer Investment Group, is purchasing Lore’s controlling interest at a valuation of 4.5 billion dollars. Stad was already a limited partner in the ownership group, operating behind the scenes while Lore and Rodriguez guided the organization through recent playoff runs.
Lore is stepping away from his active governance role to focus on taking Wonder, his food delivery and takeout business, public. While he is reducing his financial share, he remains a limited partner in the enterprise.
Leadership Restructuring and Alex Rodriguez’s Expanding Role
While Lore steps back, Alex Rodriguez is increasing his investment and maintaining a prominent position. Rodriguez will serve as co-chairman, governor of the WNBA’s Minnesota Lynx, and alternate governor of the Timberwolves, pending formal league approval.
According to team sources cited by The New York Times, Rodriguez will act as the more public-facing member of the ownership group, utilizing his comfort in the spotlight from his career as a star athlete and television analyst. He is also expected to spend the most time on the ground in Minnesota, where he owns a home.
Under the new governance structure, Elisa Stad—Marc’s wife, who spent two decades as a consumer branding executive and co-founded the University of California-San Francisco’s Stad Center for Pediatric Pain, Palliative & Integrative Medicine—will serve as the designated governor for the Timberwolves, allowing Marc Stad to remain fully engaged with Dragoneer Investment Group, which manages over 35 billion dollars in capital.
A Unified Message of Continuity
In a joint statement, Lore, Rodriguez, and Stad emphasized that their shared vision for the franchise remains intact, pointing to ongoing stability within the front office and coaching staffs.
“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.”
Marc Lore, Alex Rodriguez, and Marc Stad, via joint statement
The ownership group explicitly noted that they will continue working closely with team leadership, including president of basketball operations Tim Connelly, Matt Caldwell, Timberwolves head coach Chris Finch, and Lynx coach Cheryl Reeve.
Broader NBA Valuation Shifts and Franchise Stability
The transaction represents a remarkable tripling of the franchises’ valuation since Lore and Rodriguez first initiated their purchase in 2021 at a 1.5 billion dollar price tag. It also follows a broader wave of high-profile league sales driven by skyrocketing franchise values, which have climbed significantly following the league’s new national media rights agreements.
This ownership shift arrives just over a week after another blockbuster transaction saw the Los Angeles Lakers sold at a record-setting 12.5 billion dollar valuation. While rapid turnover among sports franchises often triggers small-market anxiety regarding team relocation, leadership has consistently reiterated its long-term commitment to the Twin Cities.
“We are not moving the team, ever.”
Marc Lore, via The Athletic
Upcoming Seasons and Next Steps for the Franchises
Both franchises enter this administrative transition amid strong competitive momentum.
The deal now awaits formal review and final approval from the NBA Board of Governors. Meanwhile, off-court planning continues regarding long-term infrastructure, with ownership pushing to build a new arena.
