Marc Stad to acquire controlling stake in Minnesota Timberwolves and Lynx for $4.5 billion

Marc Lore is selling his controlling stake in the Minnesota Timberwolves and Lynx to fellow investor Marc Stad in a deal valued at $4.5 billion, according to multiple people familiar with the transaction. The agreement, announced on Friday, August 21, 2026, will see Stad assume the role of majority owner and largest shareholder of the NBA and WNBA franchises. The transaction is pending approval from the NBA Board of Governors, which next meets on September 15-16, 2026.

Under the terms of the deal, Stad is purchasing the majority of Lore's stake. Lore and former baseball star Alex Rodriguez, who became full co-owners of the teams in June 2025, had originally purchased the franchises from Glen Taylor for $1.5 billion in a process that began in 2021. In a joint statement issued Friday, Lore, Rodriguez, and Stad affirmed their commitment to the organization's current leadership, including CEO Matt Caldwell, Timberwolves President of Basketball Operations Tim Connelly, head coach Chris Finch, and Lynx coach and president Cheryl Reeve. The statement emphasized that the deal represents an evolution of the partnership with a shared goal of building championship-caliber teams.