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Marc Stad has completed a major deal to become the controlling owner and largest shareholder of the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx. The transaction values the two Minnesota franchises at $4.5 billion, according to sources cited by ESPN.
The agreement marks a significant change in the ownership structure but is expected to preserve the organizations’ current leadership and competitive direction. Marc Lore will retain a minority investment, while Alex Rodriguez has chosen to increase his equity stake in the teams.
Marc Stad Secures a Powerful New Role in Minnesota
Stad, founder and managing partner of Dragoneer Investment Group, had already been a significant minority investor in the Timberwolves and Lynx. His purchase of Lore’s majority stake now gives him control of both franchises and makes him the most influential figure in the ownership group.
Lore is stepping back from his role as co-owner and co-chairman to focus on the planned initial public offering of his food technology company, the Wonder Group. He believes the ownership transition will give the Timberwolves and Lynx the strongest opportunity to continue growing over the next several years.
A joint statement from Stad, Rodriguez and Lore described the deal as an evolution of their partnership. The group emphasized that its focus remains on building championship-caliber organizations on and off the court.
League Approval Is the Critical Next Step
The transaction still requires approval from the NBA’s board of governors. League owners are expected to review the deal during meetings scheduled for September 15 and 16, with approval anticipated at that time.
Under the new arrangement, Elisa Stad will serve as the Timberwolves’ governor while Marc Stad continues managing Dragoneer. Rodriguez will remain the Lynx governor and will serve as the Timberwolves’ alternate governor.
- Marc Stad becomes the controlling owner of the Timberwolves and Lynx.
- The transaction is valued at $4.5 billion.
- Marc Lore retains a minority stake in the franchises.
- Alex Rodriguez is increasing his ownership position.
- Elisa Stad will become the Timberwolves’ governor.
- NBA approval is expected in September.
A Historic Valuation for the Timberwolves
The $4.5 billion valuation ranks as the fourth-largest franchise sale in NBA history, behind the Boston Celtics’ $6.1 billion sale in 2025 and two recent transactions involving the Los Angeles Lakers. The Lakers were valued at $10 billion in an earlier sale and later at $12.5 billion.
The deal also highlights the rapid rise in the value of professional sports franchises. When Lore and Rodriguez initially bought into the Timberwolves in 2021, the team was valued at approximately $1.5 billion. They eventually took full control in June 2025 after a lengthy ownership dispute involving former owner Glen Taylor.
Since Lore and Rodriguez entered the picture, Minnesota has reached the playoffs in five consecutive seasons. The Timberwolves advanced beyond the first round in each of the past three seasons and reached the Western Conference finals in both 2024 and 2025.
Timberwolves Enter New Era With High Expectations
The ownership change arrives as the Timberwolves continue building around star guard Anthony Edwards. This offseason, Minnesota made a major move to acquire Charlotte Hornets star LaMelo Ball, creating an ambitious All-Star backcourt.
The franchise also competed for LeBron James before he ultimately chose the Philadelphia 76ers. Minnesota is projected to pay the luxury tax for a third consecutive season, a sign that the new ownership group remains willing to invest heavily in the roster.
Another major issue facing the organization is the future of Target Center. The Minneapolis arena is the second-oldest building currently used by an NBA team, behind Madison Square Garden. Timberwolves ownership has been working with the city on possible plans for a new venue.
Lynx Success Strengthens the Ownership Partnership
The Minnesota Lynx are also entering this transition from a position of strength. Led by longtime coach and president of basketball operations Cheryl Reeve, the team has won four WNBA championships and remains one of the league’s most successful franchises.
Behind Napheesa Collier, Kayla McBride and rookie standout Olivia Miles, the Lynx own the WNBA’s best record at 31-7. Minnesota has become the first team in league history to win at least 30 games in three consecutive seasons, according to ESPN Research.
The Lynx have also won 16 of their past 17 games. Miles has emerged as a leading Rookie of the Year and MVP contender, adding even more excitement around a franchise already positioned for a deep playoff run.
For Marc Stad, the challenge will be maintaining that momentum across both teams. The new controlling owner inherits organizations with rising value, strong leadership and championship expectations. With Rodriguez remaining involved and Lore retaining a minority interest, the transition is designed to preserve continuity while giving Stad a decisive role in Minnesota’s future.
Frequently Asked Questions About Marc Stad
Who is Marc Stad?
Marc Stad is the founder and managing partner of Dragoneer Investment Group, an investment firm managing more than $35 billion in capital. He has also held a minority position in the Seattle Kraken.
What teams does Marc Stad now control?
Marc Stad is becoming the controlling owner and largest shareholder of the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx.
How much is the Timberwolves and Lynx deal worth?
The transaction values the two franchises at $4.5 billion, according to sources cited by ESPN.
Will Alex Rodriguez remain involved?
Yes. Alex Rodriguez is increasing his equity stake, will remain governor of the Lynx and will serve as the Timberwolves’ alternate governor.
When will the deal become official?
The NBA’s board of governors is expected to review and approve the transaction during meetings scheduled for September 15 and 16.
