Minneapolis‑area sports franchises are entering a new ownership era. Tech investor Marc Stad, a founder of San Francisco‑based Dragoneer Investment Partners, is set to acquire a controlling stake in both the Minnesota Timberwolves and the Minnesota Lynx for an estimated $4.5 billion, according to sources familiar with the deal.
Local ownership shift
This transaction follows a rapid succession of high‑value sales in professional basketball. Last month the Los Angeles Lakers were sold for a record‑breaking $12.5 billion. In Minnesota, the change comes just over a year after Glen Taylor sold the clubs to a group led by billionaire Marc Lore and former baseball star Alex Rodriguez for $1.5 billion.
Stad was previously a minority investor in that group. The new agreement gives him the majority of Lore’s stake, while 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 Timberwolves governor.
Team outlook
The Timberwolves are looking to build on recent playoff success, having added LaMelo Ball in a four‑team trade last month. The Lynx sit atop the WNBA standings and are chasing a fifth championship, buoyed by rookie Olivia Miles, MVP candidate Napheesa Collier and veteran guard Kayla McBride.
In a joint statement, Stad, Rodriguez and Lore said they remain committed to developing the franchises “in basketball on and off the floor.” The ownership group, which funded $1.5 million in theater‑style lighting at the Target Center last year, has also expressed interest in constructing a new arena for the teams.
League approval required
Both the NBA and WNBA boards of governors must approve the sale, as they will also review the pending Lakers transaction involving former Disney CEO Bob Iger and venture capitalist Josh Kushner.
While the deal is pending league sign‑off, the new owners have emphasized continuity, promising to work closely with existing executives and coaches and to expand community initiatives tied to the teams.
Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.
