Technology investor Marc Stad has completed a deal to buy a controlling stake in the Minnesota Timberwolves and Lynx. Marc Lore is transferring the majority interest to Stad at a $4.5B valuation.
Media outlets including ESPN, The New York Times, Axios, and Yahoo Sports detailed the transaction on Friday, 21 August 2026. The $4.5 billion deal transfers control of the Minnesota sports franchises to Stad. Lore agreed to the transfer, passing ownership power of each of the Timberwolves and the Lynx to the technology investor.