Marc Stad takes controlling stake in Timberwolves and Lynx in $4.5bn deal

Marc Stad transitioned from minority investor to controlling owner of the Minnesota Timberwolves and Minnesota Lynx in a transaction valued at $4.5 billion combined, according to BBC Sport reporting. The deal ranks as the fourth-largest franchise sale in NBA history. Stad acquired the majority stake held by co-chairman Marc Lore, who along with Alex Rodriguez initially invested in the Minnesota franchises in 2021 at a $1.5 billion valuation with an agreement to purchase the team in full. Lore and Rodriguez assumed full control of the basketball teams last year. Rodriguez confirmed the news Friday on social media, writing, 'One of the great joys I've had in my career is spending the last few years helping build the Timberwolves and Lynx with my friend and partner Marc Lore. I'm very excited to announce that this incredible journey reaches a new level today.' Rodriguez will increase his investment and assume expanded governance roles, pending league approval. He will serve as co-chairman, Governor of the Lynx, and alternate Governor of the Timberwolves, with plans to spend more time with the franchises. Stad will join Rodriguez and Lore as co-chairman. Per BBC Sport, Marc and Elisa Stad will be increasing their investment alongside Rodriguez's expanded commitment. The roster includes four-time NBA All-Star Anthony Edwards, per BBC Sport reporting. This ownership transition marks the second major NBA franchise sale this month, following a record-breaking transaction involving the LA Lakers last week.