Marc Stad becomes controlling owner in $4.5bn sale of Timberwolves and Lynx
Marc Stad has become the controlling owner of the Minnesota Timberwolves and WNBA Minnesota Lynx in a deal reported on 21 August 2026 that values the two franchises at a combined $4.5bn (£3.3bn). Alex Rodriguez confirmed the transaction on Friday and said he will increase his investment.
The Timberwolves roster includes four-time NBA All-star Anthony Edwards. Marc Lore and Alex Rodriguez initially bought into the Minnesota teams in 2021 at a $1.5bn (£1.1bn) valuation with an agreement to eventually purchase the franchises in full. They assumed full control of the basketball teams last year.
American businessman Marc Stad moved from being a minority investor to controlling owner by purchasing the majority of the stake held by co-chairman Marc Lore. Stad's acquisition transfers the primary ownership position in both the NBA and WNBA franchises. He will join Lore's business partner, former Major League Baseball star Alex Rodriguez, as co-chairman.
Rodriguez posted on social media: "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."
ESPN, which reported the news before Rodriguez's statement, said the deal valued the franchise at $4.5bn, the fourth-largest franchise sale in NBA history. Rodriguez confirmed the news publicly after the ESPN report.
It is the second major ownership change in the NBA this month after the LA Lakers were sold in a record-breaking deal last week. The Timberwolves reached the Western Conference last season but lost to the San Antonio Spurs.
Rodriguez added: "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."