Stad to Lead Timberwolves and Lynx After $4.5B Ownership Reorganization
TL;DR Summary
Marc Stad will assume top ownership of the Minnesota Timberwolves and Lynx after purchasing Marc Lore’s controlling stake for $4.5 billion; Lore will remain a limited partner and step back from his governor role to focus on taking Wonder public, while Alex Rodriguez stays as co-chair and governor of the Lynx and Elisa Stad is named Timberwolves governor to keep Stad fully engaged with Dragoneer. The deal preserves Minnesota-based ownership and keeps plans for a new arena on track.
- Marc Lore selling controlling stake of Timberwolves, Lynx to Marc Stad at $4.5B valuation The New York Times
- Sources: Stad completes deal for lead stake in Timberwolves, Lynx ESPN
- Timberwolves and Lynx ownership being sold to businessman Marc Stad 5 EYEWITNESS NEWS
- Minnesota Timberwolves being sold for $4.5 billion Axios
- Marc Stad Buys Majority Stake in T-Wolves, Lynx at $4.5B Valuation in Deal with Marc Lore Bleacher Report
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