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Marc Stad

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Timberwolves Bet Big on Kuminga Upgrade as Stad Takes the Reins
basketball1 month ago

Timberwolves Bet Big on Kuminga Upgrade as Stad Takes the Reins

The Timberwolves view Jonathan Kuminga as a versatile, high-upside add at a reasonable two-year, $12.4 million commitment that could fill a power-forward void by delivering defensive versatility and off-ball/on-ball usage, while Donte DiVincenzo’s return from a torn Achilles remains uncertain and Minnesota isn’t planning to trade him. The team may waive-and-stretch Josh Green to create cap space to sign Kuminga with the taxpayer mid-level exception. Separately, Jon Krawczynski profiles new majority owner Marc Stad, whose Dragoneer Investment Group will influence decisions as Stad takes a more active role alongside wife Elisa Stad, the team governor.

Marc Stad Set to Seize Controlling Ownership of Timberwolves and Lynx
business1 month ago

Marc Stad Set to Seize Controlling Ownership of Timberwolves and Lynx

Marc Stad is set to become the controlling owner and largest shareholder of the Minnesota Timberwolves and Lynx, purchasing the stakes from Marc Lore and Alex Rodriguez in a deal valued at about $4.5 billion and awaiting NBA Board approval. Lore and Rodriguez will stay as limited partners, with Stad’s wife Elisa expected to serve as the Wolves’ governor and Rodriguez remaining the Lynx’s governor. Lore is reducing his stake to pursue the Wonder Group IPO, and the teams’ lease at Target Center runs through 2035 as plans for a new arena continue to be discussed.

Stad to Lead Timberwolves and Lynx After $4.5B Ownership Reorganization
business1 month ago

Stad to Lead Timberwolves and Lynx After $4.5B Ownership Reorganization

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.