MINNEAPOLIS — In a move that will reshape the ownership of Minnesota’s premier basketball franchises, Marc Lore, the e‑commerce entrepreneur who co‑owns the NBA’s Timberwolves and the WNBA’s Lynx, has agreed to sell his controlling stake to limited partner Marc Shad. The transaction values the two teams at roughly $4.5 billion, according to a source familiar with the deal who spoke to the Associated Press on condition of anonymity.
Lore, who partnered with former baseball star Alex Rodriguez when they purchased the clubs from longtime Minnesota businessman Glen Taylor, completed the $1.5 billion acquisition in June 2025 after a four‑year negotiation process that required league approval. The new agreement effectively swaps the roles of Lore and Shad, with Shad assuming the controlling interest while Lore steps back to a non‑controlling position. Rodriguez will remain a co‑owner under the revised structure.
Leadership continuity assured
All three owners released a joint statement on Friday affirming their commitment to the existing leadership team. The statement highlighted chief executive officer Matt Caldwell, Timberwolves president of basketball operations Tim Connelly, head coach Chris Finch, and Lynx president of basketball operations and head coach Cheryl Reeve as the core executives who will continue to guide the clubs.
“Our shared goal is to maintain stability and keep the focus on building winning teams for Minnesota fans,” the statement read. “We look forward to working together to strengthen the franchise’s presence in the community and on the court.”
Implications for the franchises
The sale comes at a time when both teams are seeking to improve their competitive standing. The Timberwolves, under Finch’s guidance, have been working to develop a younger core while remaining in playoff contention. The Lynx, a perennial WNBA powerhouse, continue to pursue championship aspirations under Reeve’s leadership.
Industry analysts note that the $4.5 billion valuation reflects the growing market value of professional sports properties, especially as media rights and sponsorship opportunities expand. The deal also underscores the increasing interest of high‑net‑worth investors in owning major league teams.
Local impact
For Minnesota fans, the ownership transition is expected to be largely seamless. The owners emphasized that community outreach programs, youth basketball initiatives, and partnerships with local businesses will remain a priority. Both franchises have long been involved in charitable efforts throughout the Twin Cities, and the new ownership structure pledges to sustain those commitments.
While the financial details of the transaction remain private, the source indicated that the agreement was reached without public disclosure, suggesting a smooth handoff between the parties involved.
Tim Reynolds contributed to this report.
Original reporting: Alexandria, VA News – WTOP News — read the source article.
