Marc Stad Buys Majority Stake in Timberwolves and Lynx for $4.5 Billion

Tech investor and limited partner Marc Stad has agreed to acquire a controlling ownership stake in the Minnesota Timberwolves and Minnesota Lynx at a $4.5 billion valuation, according to an Associated Press report. The transaction follows a rapid ownership shift just a year after e-commerce entrepreneur Marc Lore finalized his own purchase of the NBA and WNBA franchises.

According to reporting from The Athletic and the Associated Press, Marc Lore has agreed to sell his controlling stake in the franchises to Marc Stad, who was already a limited partner in the teams. The transaction pegs the value of the Timberwolves and Lynx at $4.5 billion. This valuation reflects a dramatic escalation from the $1.5 billion purchase price agreed upon in 2021 by Lore and former Major League Baseball star Alex Rodriguez when acquiring the clubs from Minnesota businessman Glen Taylor. That initial acquisition required a protracted, multi-year approval process that concluded in June 2025.

According to CBS Sports, Lore is selling his majority share only 14 months after officially taking control in order to focus on taking his food delivery company, Wonder, public. Meanwhile, Alex Rodriguez will remain with the organization and is increasing his equity stake by purchasing additional shares. Stad and Lore are effectively swapping roles.

According to a joint statement issued by Lore, Rodriguez, and Stad, the leadership team will remain intact. 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 will continue in their respective roles.

Per The Athletic, Stad is committed to keeping both the Timberwolves and the Lynx in Minnesota while advancing ongoing initiatives to construct a new arena for the franchises.

The sale of the Timberwolves and Lynx highlights a wider economic trend across professional basketball, where franchises are increasingly treated as business holdings rather than vanity projects. According to CBS Sports reporting, ten different NBA teams have sold over the past decade, driven in large part by escalating valuations catalyzed by lucrative media rights agreements, such as the league’s $77 billion national television deal.