Another NBA team has changed hands with shocking speed.
Marc Lore is selling his controlling stake in the Minnesota Timberwolves and WNBA’s Lynx to billionaire investor Marc Stad in a deal that values the teams, together, at $4.5 billion.
Lore fully took over the franchises only in June 2025 after a protracted dispute over his own purchase of the team from Glen Taylor. The deal under which Lore and Rodriguez acquired the Timberwolves and Lynx valued the teams at $1.5 billion, showing just how much NBA team valuations have risen in a short period of time.
Lore, Stad, and minority owner Alex Rodriguez put out a statement confirming the deal after the news broke Friday morning. Stad, the founder of Dragoneer Investment Group, was already one of the biggest minority owners in the Timberwolves, a source familiar with the matter tells Front Office Sports. Rodriguez will not be selling his stake and in fact will be increasing his investment, the source says. Lore will retain a minority stake, the size of which was not disclosed.
The deal between Stad and Lore had been in the works for months, according to the source. The conversations started because Lore wants to focus on preparing an initial public offering for his food distribution company Wonder, the source tells FOS. Lore told Fortune in July he was planning a Wonder IPO.
