In a significant transaction for Minnesota sports, Marc Lore—co‑owner of the NBA’s Timberwolves and the WNBA’s Lynx—has agreed to sell his controlling stake in both franchises to limited partner Marc Shad. The deal values the two teams at roughly $4.5 billion, a steep increase from the $1.5 billion purchase price finalized in June 2025.

The information comes from a source familiar with the agreement who spoke to The Associated Press on condition of anonymity, noting that the details have not been publicly disclosed.

Background on the ownership group

Lore, a New York‑based e‑commerce entrepreneur, and former Major League Baseball star Alex Rodriguez acquired the Timberwolves and Lynx from longtime Minnesota businessman Glen Taylor after a protracted four‑year negotiation. League approval was granted in June 2025, completing the $1.5 billion sale.

Under the new arrangement, Lore and Shad will essentially swap roles, with Shad assuming the controlling interest while Lore steps back. Rodriguez will continue as a co‑owner, maintaining his involvement in both clubs.

Commitment to current leadership

All three owners—Lore, Rodriguez, and Shad—issued a joint statement affirming their support for the existing management team. The statement highlighted continued confidence in Timberwolves CEO Matt Caldwell, President of Basketball Operations Tim Connelly, head coach Chris Finch, as well as Lynx President of Basketball Operations and head coach Cheryl Reeve.

The transition is expected to be seamless for the teams’ operations and on‑court performance, with the ownership group emphasizing stability and a shared vision for future success.

AP basketball writer Tim Reynolds contributed to the report.

Original reporting: KSAT Sports (San Antonio) — read the source article.