NBA: Timberwolves Sold Again for Incredible Sum

American entrepreneur Marc Stad, 47, has become the new majority owner of the Minnesota Timberwolves (NBA) and the Minnesota Lynx (WNBA), after acquiring the majority of Marc Lore's stake. The deal values both teams at $4.5 billion (€3.852 billion), triple the amount agreed upon in the original 2021 transaction.

The shift in ownership structure comes just over a year after Marc Lore and Alex Rodriguez officially took control of the teams. According to information from ESPN's Shams Charania, Stad, who was already a significant minority investor, now becomes the principal shareholder.

Despite the acquisition, the transition is not expected to result in an immediate organizational restructuring. The agreement, reached after months of negotiations, was structured to allow Stad, Lore, and Rodriguez to continue working together, maintaining stability and the teams' current leadership structures. Thus, both Marc Lore and Alex Rodriguez will remain co-owners.

With this change, Stad's wife, Elisa Stad, will assume the role of Timberwolves governor, a position previously held by Marc Lore. It's worth noting that the NBA Board of Governors unanimously approved the sale of control of the teams from former owner Glen Taylor to the Lore and Rodriguez duo in June 2025, at which point Lore became governor and Rodriguez alternate governor. The Board will now need to approve this latest transaction for it to be confirmed.

This new deal highlights the rapid increase in NBA team valuations. In 2021, Lore and Rodriguez agreed to purchase the Timberwolves and Lynx for $1.5 billion (€1.283 billion). The agreement stipulated the full acquisition of the then-owner Glen Taylor's stake, who later attempted to block the transfer of control, leading to a court resolution. Stad's acquisition is now finalized at a value three times higher, set at $4.5 billion (€3.852 billion).

Stad is the founder of Dragoneer, an investment firm established in 2012 that, according to Forbes, has grown into one of the largest in its sector, currently managing over $35 billion (€29.96 billion) in capital. His connection to professional sports is not new; in 2018, he became a minority shareholder in the Seattle Kraken of the NHL (ice hockey), maintaining close ties with owner Samantha Holloway and her late father, David Bonderman.

Lore and Rodriguez officially assumed full control in June 2025, reinforcing their commitment to keeping the team in Minnesota. However, one of the challenges for the new leadership is the arena situation, as the Target Center is the second oldest in the NBA, surpassed only by Madison Square Garden, though the latter has undergone two renovations in the last two decades. The current administration has been in discussions with the city of Minneapolis regarding the construction of a new arena.