Minnesota Changes Ownership, Marking Fourth Most Expensive NBA Sale in History!

This transaction marks one of the largest sales in NBA history, with the franchise currently valued at an impressive $4.5 billion. Lore, who acquired the club with Alex Rodriguez several years ago, has decided to sell his majority stake but will retain a minority interest. Rodriguez, on the other hand, plans to increase his ownership percentage.

According to American media reports, Lore opted to step down from his vice-chairman position and sell his stake to refocus on his company, "Wonder Group," a food technology firm preparing for an IPO. Negotiations with Stad, previously a minority owner, spanned months but ultimately led to an agreement, effectively swapping their roles, with Lore remaining a minority owner.

The sports operations will remain unchanged. Tim Connelly will continue as the Timberwolves' President of Basketball Operations, Matt Lloyd as General Manager, and Chris Finch as Head Coach. No changes are planned for the Minnesota Lynx either.

Official confirmation of the sale is expected in mid-September, pending approval from the NBA Board of Governors, whose meeting is scheduled for September 15th and 16th.

With an estimated value of $4.5 billion, this ranks as the fourth most expensive sale in league history. Only the Boston Celtics (valued at $6.1 billion in 2024) and the Los Angeles Lakers, whose value was assessed at $12.5 billion and $10 billion in two separate transactions, have commanded higher prices.

Since Lore and Rodriguez joined the Timberwolves' ownership group five years ago, the franchise's value has tripled. Furthermore, Minnesota has become a consistent playoff contender, reaching the postseason in all five seasons. The challenging task of maintaining this continuity now falls to Marc Stad.

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