[REVISION HISTORY]

Minnesota Timberwolves and Lynx ownership restructure

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-08-25 15:35 UTC → 2026-08-25 16:55 UTC · added ~~removed~~

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.~~ 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.

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