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yesterday

Marc Stad Agrees to Buy Timberwolves and Lynx at $4.5 Billion

Dragoneer founder Marc Stad becomes the controlling owner as Marc Lore steps back to focus on a planned Wonder Group IPO and the transaction now awaits NBA Board of Governors approval.

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Apr 2, 2026; Portland, Oregon, USA; Tom Dundon, the owner of the Portland Trail Blazers, after a game against the New Orleans Pelicans at Moda Center. Mandatory Credit: Troy Wayrynen-Imagn Images

Overview

  • The parties announced an internal transfer that, reported Friday, Aug. 21, values the Minnesota Timberwolves and Lynx at $4.5 billion with Stad buying Marc Lore’s controlling stake.
  • Marc Lore will move to a minority ownership role to concentrate on taking his Wonder Group food‑delivery business public and Alex Rodriguez will remain an active co‑owner and increase his stake.
  • Elisa Stad is expected to serve as the Timberwolves’ governor while the ownership group said it will preserve the current front office and coaching leadership, including Tim Connelly, Matt Caldwell, Chris Finch and Cheryl Reeve.
  • The sale reflects a rapid rise in NBA franchise values and follows several recent multibillion‑dollar ownership flips in the league, signaling strong investor demand for teams.
  • The agreement is reported and largely settled between the owners but still requires formal ratification by the NBA Board of Governors at its Sept. 15–16 meeting before it becomes final.