Timberwolves Sold for $4.5 Billion in Shocking Ownership Shakeup

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.