Marc Lore selling majority stake in Timberwolves, Lynx to Marc Stad

For the second time in nine days, an NBA owner’s stake in their franchise has been flipped after a period of brief control.

Marc Lore is selling his majority stake in the Minnesota Timberwolves and the WNBA’s Minnesota Lynx to businessman Marc Stad, making Stad the controlling owner of the franchise. This comes just 14 months after Lore bought the Timberwolves alongside former Major League Baseball star Alex Rodriguez.

Lore will retain a minority stake in the franchise, and Rodriguez will also increase his minority shares in the Timberwolves with the transaction. Stad had been a minority investor in the team.

According to ESPN, the transaction was agreed to with a $4.5 billion valuation.

“We have been working together for years with a shared goal of building the Timberwolves and Lynx into the best organization in basketball on and off the floor,” Stad, Rodriguez and Lore said Friday, Aug. 21 in a joint statement. “Our priority is and always will be championships. Our new agreement, pending league approval, is an evolution of the partnership we have built together and strengthening of our commitment to our team and our culture.”

Stad is the founder of a California investment management firm, Dragoneer Investment Group.

According to ESPN, Lore opted to reduce his exposure and involvement in the Timberwolves and Lynx as his company, the Wonder Group, plans to make a push for an initial public offering.

This also follows a new trend of owners flipping their investment in a very short period to net a significant profit.

On Aug. 12, Los Angeles Dodgers co-owner and TWG Global CEO Mark Walter agreed to sell his shares of the Los Angeles Lakers to businessman Joshua Kushner and former Disney CEO Robert Iger at a record $12.5 billion valuation. This was just 10 months after Walter’s purchase of the Lakers had been approved at a valuation of $10 billion, generating a 25% return on his investment in his short tenure.

The Lore and Rodriguez purchase of the Timberwolves was unanimously approved in June 2025, at a valuation of $1.5 billion. Given that Lore sold his stake at the $4.5 billion valuation — which ranks fourth-most in NBA history — Lore stands to make a massive 200% return on his investment in just 14 months.

“One of the great joys I’ve had in my career is spending the last few years helping build the Timberwolves and Lynx with my friend and partner Marc Lore. I’m very excited to announce that this incredible journey reaches a new level today,” Rodriguez said on Friday, Aug. 21 in a statement posted on social media.

“Marc and Elisa Stad, who have been our partners and friends since we bought the teams, will be increasing their investment and joining me as Co-Chairman. I will also be increasing my investment and spending even more time with the teams as Co-Chairman, Governor of the Lynx, and alternate Governor of the Timberwolves, pending league approval.”

The NBA will hold its annual fall board of governors meeting in September in New York, when the transaction might be put up for a vote of approval.

“While Marc Lore will be reducing his role and ownership to focus on his business, he remains an investor and a key part of our partnership,” Rodriguez continued. “I could not be more energized about this evolution and what we’re all going to do together for the Twin Cities.”

The Timberwolves have been a consistent threat in the Western Conference playoffs, though they have failed to break through to the NBA Finals. The team underwent a minor overhaul this offseason after it traded away Julius Randle and Naz Reid in separate deals that returned former Hornets guard LaMelo Ball. The move is meant to provide some offensive relief for star guard Anthony Edwards, who has become one of the more dynamic scorers in the NBA.

The Lynx currently have the best record in the WNBA at 30-7, which is four games clear of the next closest team, the Golden State Valkyries. Minnesota has been one of the more consistent franchises in the WNBA, having won four championships from 2011-17.

This article originally appeared on USA TODAY: Marc Lore selling majority stake in Timberwolves, Lynx to Marc Stad