The Minnesota Timberwolves have switched hands in a deal worth a reported combined $4.5bn (£3.3bn) for the NBA team and their women’s basketball side, the Minnesota Lynx.
Businessman Marc Stad has gone from a minority owner to an owner in control of the franchise, having bought out the majority of the ownership from co-chairman Marc Lore.
Ownership Restructure
Stad will become co-chairman alongside business partner and former Major League Baseball player Alex Rodriguez.
The news was broken by Rodriguez on Friday afternoon, who said that he was going to further invest in the team.
ESPN reported the news prior to Rodriguez’s announcement, citing the value of the franchise as $4.5bn.
“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,” Rodriguez posted on social media.
“I’m very excited to announce that this incredible journey reaches a new level today.
“Marc and Elisa Stad, who have been our partners and friends since we bought the teams, will be increasing their investment and joining me as co-chairman.
“I will also be increasing my investment and spending even more time with the teams as co-chairman, Governor of the Lynx, and alternate Governor of the Timberwolves, pending league approval.”
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. I’m very excited to announce that this incredible journey reaches a new level today. Marc and Elisa Stad, who have been our…
— Alex Rodriguez (@AROD) August 21, 2026
Lore and Rodriguez made their first investment into the Minnesota side in 2021 at a value of $1.5bn (£1.1bn), having agreed to eventually buy out the franchise completely. The duo took complete control of the basketball franchises last year.
This comes as the second big change of ownership in the NBA in this month following the sale of the LA Lakers side in a landmark deal last week.
The Timberwolves side made it to the Western Conference last season, only to be beaten by the San Antonio Spurs side.
