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2 clusters · 27 sources · 5 days · First seen · Last updated

Minnesota Timberwolves and Lynx ownership restructure

Overview

Marc Stad, founder of Dragoneer Investment Group, has reached an agreement to become the controlling owner of the Minnesota Timberwolves (NBA) and the Minnesota Lynx (WNBA). The restructuring values the franchises at $4.5 billion, a significant increase from the approximately $1.5 billion valuation established during a 2021 agreement when Marc Lore and Alex Rodriguez began acquiring the teams.

Under the new arrangement, Marc Lore will transition to a minority ownership role to focus on taking his food-tech company, Wonder Group, public. Alex Rodriguez will increase his equity stake and serve as Co-Chairman and Governor of the Lynx, while Elisa Stad is designated to serve as the Timberwolves’ governor. Rodriguez has reaffirmed his commitment to the Twin Cities and current basketball operations leadership.

The transaction remains subject to formal approval by the NBA Board of Governors, a process that may not conclude until January. Despite the shift in majority ownership, the franchises intend to maintain current basketball operations leadership, including Timberwolves president of basketball operations Tim Connelly and head coach Chris Finch.

Entities

Minnesota Lynx · Marc Stad · Marc Lore · Minnesota Timberwolves · Alex Rodriguez

Timeline

  1. 18 days ago

    [SPORTS] 5 sources
    Marc Stad to acquire controlling stakes in Timberwolves and Lynx

    Marc Stad will acquire controlling stakes in the Minnesota Timberwolves and Lynx from Marc Lore in a deal valuing the franchises at $4.5 billion. Alex Rodriguez will remain a co-owner.

  2. 22 days ago

    [SPORTS] 23 sources
    Marc Stad acquires controlling stake in Timberwolves and Lynx

    Tech investor Marc Stad is acquiring a majority stake in the Minnesota Timberwolves and Lynx in a deal valued at $4.5 billion, with Alex Rodriguez remaining as Co-Chairman.

Sources

24-ore.com · almomento.net · bleacherreport.com · canishoopus.com · clutchpoints.com · deadspin.com · dominicanaaldia.com · elnuevodiario.com.do · elpaisdominicano.do · fox9.com · hoopsrumors.com · hoopswire.com · kesq.com · kstp.com · lazybudgetchef.com · localnews8.com · meridiano.net · rr.pt · si.com · spacemoney.com.br · sportal.co.nz · sportal.rs · sportsmintmedia.com · sportsnaut.com · theathletic.com · urbanclimber.com · wjon.com

This summary has been updated 1 time: see revision history