Marc Stad Takes Over Minnesota Timberwolves And Lynx

Marc Stad is taking control of the Minnesota Timberwolves and Lynx. Alex Rodriguez stays on as governor for the WNBA team while Marc Lore steps back from day-to-day duties to push his food tech firm, Wonder Group, toward an IPO within the next year. ESPN reports the two franchises are worth $4.5 billion in this deal.

Lore agreed to sell his majority share to Stad, who runs Dragoneer Investment Group and has been a major investor under the old ownership. Lore will keep a minority stake, though exact percentages were not released right away. Rodriguez plans to raise his own equity as well. The precise split between Lore and Rodriguez remains unclear for now.

This move follows months of talks. Sources say it lets Stad, Rodriguez, and Lore keep the current leadership intact. That means Timberwolves President Tim Connelly, general manager Matt Lloyd, coach Chris Finch, Lynx head coach Cheryl Reeve, and president of basketball operations stay in their posts. The trio issued a joint statement Friday saying they want to keep building the teams into the best organization on and off the floor.

"We have been working together for years with a shared goal of building the Timberwolves and Lynx into the best organization in basketball on and off the floor," the group said. "Our priority is and always will be championships. Our new agreement, pending league approval, is an evolution of the partnership we have built together and strengthening of our commitment to our team and our culture."

"While we're proud of the great work we've done, there's so much more to do, and we're just getting started," they added.

Rodriguez posted on social media about the change. "One of the great joys I've had in my career is spending the last few years helping build the Timberwolves and Lynx with my friend and partner Marc Lore," he wrote. "I'm very excited to announce that this incredible journey reaches a new level today."

He called Elisa Stad his partner and friend since they bought the teams, noting she will join him as Co-Chairman. Rodriguez said he will increase his investment and spend more time with both clubs as Co-Chairman and Governor of the Lynx, plus alternate Governor for the Timberwolves, pending league sign-off. He confirmed Lore stays an investor and a key part of the partnership even while cutting back his role.

The transaction now heads to the NBA Board of Governors. They are expected to review and vote at their Sept. 15-16 meeting. This sale ranks as the fourth-largest franchise deal in NBA history, behind the Boston Celtics' $6.1 billion move in 2025 and two Lakers deals over the past year valued at $10 billion and $12.5 billion respectively.

Since Lore and Rodriguez took ownership, Minnesota has made five straight playoff runs and advanced past the opening round in each of the last three trips. The shift brings fresh eyes but keeps the culture steady. Can this group keep the momentum rolling?