Marc Stad is set to become the controlling owner and largest shareholder of the Minnesota Timberwolves and Minnesota Lynx after reaching an agreement to purchase most of Marc Lore’s ownership stake, according to ESPN.
The transaction values the franchises at $4.5 billion.
Stad, founder and managing partner of Dragoneer Investment Group, was already a major minority investor in the ownership group led by Lore and Alex Rodriguez.
The deal reportedly developed following months of discussions between Stad and Lore.
Despite the change in control, Stad, Rodriguez and Lore are expected to continue working together, while the Timberwolves and Lynx will maintain their existing leadership structures.
Stad’s wife, Elisa Stad, will become the Timberwolves’ governor as part of the ownership transition.
Rodriguez will also remain involved, continuing as a co-owner of both the Timberwolves and Lynx.
Stad, the founder and managing partner of Dragoneer Investment Group, had been a significant minority investor in the Timberwolves and Lynx under the ownership group of Lore and Alex Rodriguez.
Sources said the transfer of ownership between the Stad family and Lore developed… https://t.co/ozkT5oaNks
— Shams Charania (@ShamsCharania) August 21, 2026
