Marc Lore has agreed to sell his majority stake in the Minnesota Timberwolves and the WNBA’s Minnesota Lynx to businessman Marc Stad in a transaction valuing the franchises at $4.5 billion, according to an ESPN report published on Aug. 21, 2026. The deal comes just 14 months after Lore and former Major League Baseball star Alex Rodriguez completed their purchase of the teams.
Ownership Shift and Valuation Changes
Under the new agreement, Stad will become the controlling owner of both the Timberwolves and the Lynx, pending league approval. Stad previously held a minority stake in the organization as the founder of the California-based investment management firm Dragoneer Investment Group. According to ESPN, Lore chose to reduce his exposure and involvement with the franchises to direct his focus toward an initial public offering for his company, the Wonder Group.
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Despite stepping down as the controlling owner, Lore will retain a minority stake in the organization. Meanwhile, Alex Rodriguez will increase his own minority shares and step into an expanded leadership role, according to his public statement released on Aug. 21, 2026. The $4.5 billion valuation represents a substantial increase from the $1.5 billion valuation approved by the NBA in June 2025, netting early investors a significant return over a brief 14-month window.
Broader Sports Investment Trends
The sale of the Timberwolves mirrors a wider pattern of rapid franchise ownership turnover across major professional sports leagues. On Aug. 12, 2026, 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. That transaction carried a record $12.5 billion valuation, arriving just 10 months after Walter’s initial purchase at a $10 billion valuation and generating a 25% return.
The NBA is expected to review the Minnesota ownership transition during its upcoming fall board of governors meeting scheduled for September in New York. If approved, the shift cements Stad’s control while keeping Rodriguez anchored as a co-chairman and governor of the Lynx.
Team Operations and Competitive Outlook
On the court, the ownership change arrives as the Timberwolves and Lynx maintain distinct competitive profiles. According to USA Today, the Minnesota Lynx hold a 30-7 record in the WNBA, sitting four games clear of the next closest team in the standings. The Timberwolves have remained a fixture in the Western Conference playoff picture, though they have yet to break through to the NBA Finals.
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The Timberwolves’ front office engineered a roster overhaul during the offseason, trading away Julius Randle and Naz Reid in separate deals to acquire former Hornets guard LaMelo Ball. According to league reporting, the addition aims to ease the offensive burden on star guard Anthony Edwards as the franchise prepares for the upcoming season under new ownership control.