San Francisco‑based tech investor Marc Stad is set to become the controlling owner of both the Minnesota Timberwolves of the NBA and the Minnesota Lynx of the WNBA. Sources close to the deal told CNN that Stad will purchase the majority of billionaire Marc Lore’s stake for a total transaction value of $4.5 billion.
Local ownership shift
This purchase follows a rapid succession of ownership changes in Minnesota’s professional basketball scene. Less than a year ago, Lore, former baseball star Alex Rodriguez and a group of investors bought the two franchises from longtime owner Glen Taylor for $1.5 billion. Stad was already a minority partner in that group, and his new purchase consolidates his influence.
Rodriguez is expected to remain on the ownership board and continue serving as governor of the Lynx. Stad’s wife, Elisa, will take the role of governor for the Timberwolves, according to the sources.
Impact on the teams
The Timberwolves entered the offseason after three consecutive deep playoff runs and a recent blockbuster four‑team trade that brought LaMelo Ball to Minnesota. The Lynx, meanwhile, sit atop the WNBA standings and are pursuing a fifth championship, led by rookie sensation Olivia Miles, perennial MVP candidate Napheesa Collier and veteran guard Kayla McBride.
In a joint statement, Stad, Rodriguez and Lore said they remain “steadfast in our goal to build the Timberwolves and Lynx into the best organizations in basketball on and off the floor.” The ownership group, which invested $1.5 million last year in theater‑style lighting at the Target Center, has also expressed interest in constructing a new arena for the teams.
League approval and broader context
The NBA Board of Governors must approve the sale, as it will also need to clear the parallel transaction involving the Los Angeles Lakers, which is headed to former Disney CEO Bob Iger and venture capitalist Josh Kushner. The Lakers deal, valued at $12.5 billion, set a record for a professional basketball franchise.
Stad’s acquisition underscores a growing trend of high‑net‑worth investors entering the sports‑ownership arena, bringing both capital and tech‑industry expertise to traditional franchises. Local fans can expect continued investment in facilities, community outreach and competitive talent acquisition as the new ownership group seeks to elevate both teams on the national stage.
Original reporting: KTVZ (Central Oregon) — read the source article.
