The Minnesota Timberwolves and Minnesota Lynx are going through another major ownership change, with billionaire investor Marc Stad set to become the controlling owner and largest shareholder of both franchises in a blockbuster deal, with the teams being valued at $4.5 billion.
According to ESPN’s Shams Charania, Stad has agreed to purchase the majority of Marc Stad’s stake in the Timberwolves and Lynx. The transaction will require the approval of the NBA Board of Governors, which is scheduled to meet in September.
Stad is not a new face in the organization. The managing director of Dragonair Investment Group has already been a significant minority investor under the ownership group led by Marc Lore and Alex Rodriguez.
This new arrangement will not remove Lore and Rodriguez from the picture. Lore will still have a minority investment after deciding to step back from his co-owner and co-chairman responsibilities. Rodriguez, meanwhile, will still be a co-owner and is reportedly increasing his equity percentage.
Stad’s wife, Elisa Stad, is expected to become the Timberwolves governor, while Rodriguez will still be involved with both franchises. The ownership transaction reportedly developed over the past few months of discussions and was designed to preserve stability throughout the organization.
This means the Timberwolves are expected to retain the current basketball leadership, including president Tim Connelly, general manager Matt Lloyd, and head coach Chris Finch.
Lore’s decision to reduce his involvement appears to be largely connected to his business interests away from basketball. He reportedly wants to concentrate on the potential IPO of his food tech company, Wonder Group.
Stad taking a larger role represented the best path forward for both franchises. The $4.5 billion valuation is another big example of how dramatically NBA franchise values have increased. Lore and Rodriguez initially agreed to buy the Timberwolves and Lynx from Glen Taylor in 2021 at a valuation of $1.5 billion.
Just five years later, the latest transaction values the franchises at three times that figure.
It also becomes one of the largest ownership deals in NBA history. Over the last year and a half, the Los Angeles Lakers have been valued at $12.5 billion and $10 billion in separate transactions, while the Boston Celtics were sold at a $6.1 billion valuation.
And now Minnesota joins that group at $4.5 billion.
The timing is especially interesting considering where the Timberwolves are competitively. The Timberwolves made the playoffs in every season since Lore and Rodriguez became involved and reached the Western Conference Finals in 2024 and 2025.
Ownership has shown a willingness to spend big and enter the luxury tax as they attempt to maximize the Anthony Edwards championship window. This approach has continued this offseason as well, as the Timberwolves acquired LaMelo Ball to create an explosive All-Star backcourt.
For Timberwolves fans, the biggest question is whether Stad retains the same willingness to spend and compete with the best of the best.
Everything surrounding the transaction suggests continuity rather than a reset. Lore and Rodriguez remain involved, the basketball leadership is staying intact, and Stad already understands how the organization operates.
At $4.5 billion, the Minnesota Timberwolves’ ownership story has officially entered an entirely different financial stratosphere.
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