The Timberwolves and Lynx will soon change hands of majority ownership … again.
Marc Lore is selling his majority stake to Marc Stad, a source confirmed to the Pioneer Press. Stad is the founder and managing partner of Dragoneer Investment Group, per Forbes.
Stad was previously a minority investor under Alex Rodriguez and Lore. Rodriguez is retaining his stake in the organization, as well as his roles as govenor of the Lynx and co-governor of the Wolves.
Lore is staying on as a minority investor.
Early reports on Stad suggest he’s a personable owner who’s highly motivated to win.
Per Forbes, Stad founded the Dragoneer Investment Group in 2012 now manages over $35 billion in capital. He bought Lore’s majority stake in the basketball franchise at a $4.5 billion valuation, three-times what Lore purchased it for from Glen Taylor when that deal was struck in 2021.
Lore’s majority ownership tenure lasted just more than a year. The Wolves are the second NBA team to be sold this summer, joining the Lakers, who were sold for north of $12 billion.
Minnesota was a luxury tax team under Lore — a near requirement to contend at a championship level — though it frequently required coaxing for the Wolves to maintain that status.
The Timberwolves have reached the second round of the Western Conference playoffs in each of the last three years, including conference finals trips in 2024 and 2025. Minnesota just traded for star point guard LaMelo Ball in June.
The team’s CEO, Matt Caldwell, was inked to a long-term deal to join the organization last year. Wolves basketball boss Tim Connelly is entering the final season of his deal.
The Lynx, meanwhile, currently sport the top record in the WNBA.
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