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Sports Illustrated
Sports Illustrated
Sport
Kristen Wong

What to Know About Marc Stad, the New Majority Owner of the Timberwolves

Timberwolves Marc Lore Lynx Alex Rodriguez Charania Elisa Minnesota NBA

Businessman Marc Stad completed a deal to become the controlling owner and largest shareholder of the Timberwolves and the Lynx, ESPN’s Shams Charania reported Friday.

Stad bought the majority of co-owner Marc Lore’s stake at a $4.5 billion valuation, per Charania. The stunning news marks the latest franchise to undergo a seismic ownership change in the NBA, taking place just a little over a week after Bob Iger and Joshua Kushner reportedly bought the Lakers for $12.5 billion from Mark Walter.

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