Stad has purchased the majority of Marc Lore's stake in the Minnesota Timberwolves and Minnesota Lynx.
The Minnesota Timberwolves and Minnesota Lynx have a new boss.
Marc Stad completed a deal to purchase the majority of co-owner Marc Lore's stake at a $4.5 billion valuation, per ESPN's Shams Charania, making him the controlling owner and largest shareholder of both franchises.
Stad had already been a minority investor in both teams under the ownership group of Lore and Alex Rodriguez before this deal came together, so this isn't some outsider walking in cold.
His wife, Elisa, will serve as the Timberwolves' governor under the new setup.
Why Lore Stepped Back
Lore chose to sell his majority stake because he wants to shift his focus to the upcoming IPO of Wonder, his food-tech company, per Charania.
Under the new structure, Lore will remain a limited partner in the teams while Rodriguez will continue as a co-owner and has increased his equity percentage in the franchises.
The NBA Board of Governors didn't even approve the sale of the teams from Glen Taylor to Lore and Rodriguez until June 2025, which means Lore was the lead owner for barely over a year before handing control to Stad.
The transfer between the Stad family and Lore came together after months of talks and was set up to keep all three parties working together with the same leadership structure intact.
Who Is Marc Stad?
Stad graduated magna cum laude from Harvard and got his MBA at Stanford before founding Dragoneer Investment Group in San Francisco in 2012.
Dragoneer manages over $20 billion and has backed companies like Airbnb, DoorDash and Uber.
Stad has spent his career spotting organizations on the rise and putting serious money behind them, and that investor's eye is worth paying attention to for a Timberwolves team that's trying to push past the second round of the playoffs.
Where the Franchises Stand
Minnesota went 49-33 in 2025-26, finished sixth in the Western Conference, upset the Denver Nuggets in the first round and then lost to the San Antonio Spurs in six games in the Conference Semifinals.
Anthony Edwards put up 28.8 points, 5.0 rebounds and 3.7 assists per game and won All-Star Game MVP, while Rudy Gobert gave them 10.9 points and 11.5 rebounds per game on 68.2 percent shooting.
This offseason the Wolves traded for LaMelo Ball from the Charlotte Hornets, giving Edwards a real playmaker next to him in the backcourt and making Minnesota one of the most exciting teams heading into 2026-27.
Stad takes over a team with the talent to win and enough momentum to make this ownership change feel like it came at the right time.
