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For the second time in nine days, an NBA owner’s stake in their franchise has been flipped after a period of brief control.
Marc Lore is selling his majority stake in the Minnesota Timberwolves and the WNBA’s Minnesota Lynx to businessman Marc Stad, making Stad the controlling owner of the franchise. This comes just 14 months after Lore bought the Timberwolves alongside former Major League Baseball star Alex Rodriguez.
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Lore will retain a minority stake in the franchise, and Rodriguez will also increase his minority shares in the Timberwolves with the transaction. Stad had been a minority investor in the team.
According to ESPN, the transaction was agreed to with a $4.5 billion valuation.
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Source link : https://sports.yahoo.com/articles/marc-lore-selling-majority-stake-194718520.html
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Publish date : 2026-08-21 19:47:00
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