Another dramatic ownership change in the NBA: A massive deal in Minnesota

Another dramatic ownership change in the NBA, this time in Minnesota. Shams Charania reported on Friday that American businessman Marc Stad has completed a deal to acquire the majority of Marc Lore's stake at a valuation of $4.5 billion, becoming the controlling owner of the Timberwolves and the WNBA's Lynx.

Stad, founder and managing partner of the investment fund Dragoneer, was already part of the ownership group and will now become the largest shareholder. Lore will remain among the owners, but in a more limited capacity, while Alex Rodriguez will continue in a key role. Stad and his wife, Alisa, will head the ownership group, with her serving as the owners' representative for the Timberwolves and Rodriguez continuing in the parallel role for the Lynx.

In effect, this is a change within the existing ownership group: Stad moves from third to first in terms of holdings, Rodriguez remains second, and Lore takes a step back. According to The Athletic, the change will not affect plans to build a new arena and keep the Timberwolves in Minnesota for the long term.

The move comes just over a year after Lore and Rodriguez gained full control of the Timberwolves and the Lynx, following a prolonged struggle with previous owner Glen Taylor. The two entered as partners in 2021 as part of a deal valued at $1.5 billion, and later won an arbitration process and completed the transfer of control in the summer of 2025.

According to The Athletic, Lore decided to reduce his involvement partly due to his commitments at the company Wonder, which he intends to take public. It was further reported that he had options to sell at a higher valuation than $4.5 billion, but he preferred Stad to maintain continuity. Stad was already involved behind the scenes in the club's operations and even took part in efforts to recruit LeBron James this summer.