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Timberwolves Sold for $4.5 Billion in Shocking Ownership Shakeup

PUBLISHED Aug 25, 2026, 1:33 PM ET

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Minnesota Timberwolves and Lynx co-owner Marc Lore has agreed to sell his controlling stake to limited partner Marc Stad at a $4.5 billion valuation, according to a person with knowledge of the deal. The transaction, first reported Friday by ESPN's Shams Charania, comes barely a year after Lore and Alex Rodriguez finalized their $1.5 billion purchase from Glen Taylor in June 2025. Stad, the 47-year-old founder of Dragoneer Investment Group, which manages over $35 billion in assets, will become controlling owner. Lore will retain a minority stake to focus on taking his food delivery company Wonder public. Rodriguez will remain a co-owner and serve as the public-facing representative. Stad's wife, Elisa, will be designated the Timberwolves' governor. The deal, the NBA's fourth-largest franchise sale in history, awaits approval from the NBA Board of Governors at its Sept. 15-16 meeting.

By James Porter | JQJO News

Timeline of Events

2021: Lore and Rodriguez agreed to purchase Timberwolves at $1.5 billion valuation.
· 2024: Boston Celtics sold for $6.1 billion, then NBA's third-largest sale.
· June 2025: NBA Board unanimously approved Lore-Rodriguez $1.5B purchase from Taylor.
· August 2025: Mark Walter agreed to sell Lakers to Iger and Kushner.
· August 12, 2026: Lakers sold for record $12.5 billion to Iger and Kushner.
· August 2026: Timberwolves acquired LaMelo Ball in blockbuster four-team trade.
· August 21, 2026: Shams Charania first reported Lore selling stake to Stad.
· August 21, 2026: AP confirmed deal with person knowledge of agreement.
Present Events
· August 21, 2026: Lore, Rodriguez and Stad issued joint commitment statement.
· August 21, 2026: Jon Krawczynski reported Stad "all in" on new arena.
· August 21, 2026: Elisa Stad named Timberwolves governor, Rodriguez Lynx governor.
· August 2026: Deal ranks fourth-largest NBA franchise sale in history.
· August 2026: Timberwolves project luxury tax for 2026-27 season.
Future Expectations
· Sept. 15-16, 2026: NBA Board of Governors expected to consider approval.
· 2026-27 season: Timberwolves projected to operate in luxury tax.
· 2026: Team CEO aims to select new arena site.
· Next year: Lore plans to take Wonder public.
· Future: Rodriguez to serve as public-facing ownership representative.

News Intelligence

· Immediate US impact: Second billion-dollar NBA team sale in two weeks.
· Possible long-term US impact: Franchise valuations surge amid leaguewide ownership turnover.
· Most affected groups: Timberwolves and Lynx fans, players, Minnesota community.
· What readers should prioritise: Official NBA Board approval and new arena developments.