The Lakers and Timberwolves may share Minnesota roots, but one is a price a heck of a lot more than the other.
Businessman Marc Stad will become the controlling proprietor and largest shareholder of the Timberwolves and the WNBA’s Lynx in a deal valued at $4.5 billion, according to ESPN.
This transfer comes shortly after last week’s bombshell that the Lakers would be bought to businessman Josh Kushner and ex-Disney government Bob Iger for an American sports activities document of $12.5 billion.
Marc Stad attends the 2024 Breakthrough Prize Ceremony at the
Academy Museum of Motion Pictures on April 13, 2024. Getty Images
The $4.5 billion determine ranks fourth in NBA historical past among possession pacts and is pending approval from the Board of Governors, with its next conferences occurring Sept. 15-16, per ESPN.
Stad reportedly is shopping for the majority of co-owner Marc Lore’s stake, who will stay as a minority investor in the franchises.
He opted to promote the crew to focus on his Wonder Group firm with the hope of establishing the greatest foot ahead for the franchise in the long run, per ESPN.
Fellow co-owner Alex Rodriguez rising his fairness percentages, according to the community, and it’s unsure what p.c he and Lore will own once the deal is finalized.
“We have been working together for years with a shared goal of building the Timberwolves and Lynx into the best organization in basketball on and off the floor,” Stad, Rodriguez and Lore said in a joint assertion Friday, according to ESPN. “Our precedence is and always will be championships. Our new settlement, pending league approval, is an evolution of the partnership we have constructed collectively and strengthening of our dedication to our crew and our tradition.
“While we’re proud of the great work we’ve done, there’s so much more to do and we’re just getting started.”
The Timberwolves have now modified fingers twice in brief succession.
Minnesota Timberwolves homeowners Marc Lore (l) and Alex Rodriguez (r) are seen during their crew’s sport against the Brooklyn Nets in the first half at the Barclays Center in Brooklyn, New York, Thursday, April 3, 2025. JASON SZENES/NY POST
Rodriguez and Lore beforehand agreed to buy the crew for a $1.5 billion valuation in 2021 before they formally assumed possession last 12 months.
Stad, 47, is the founder of Dragoneer Investment Group, which Forbes lists as one of the “largest growth investment firms,” and beforehand served as a minority investor for the two Minnesota franchises and joined the possession group of the Kraken of the NHL, according to ESPN.
His spouse, Elisa, reportedly will serve as the crew’s Governor once the transaction is finalized, with Rodriguez appearing as the alternate governor.
Stad inherits a Timberwolves crew that includes one of the sport’s greatest gamers in Anthony Edwards but has yet to make the NBA Finals in franchise historical past.
Last 12 months’s crew went 49-33 and completed sixth in the Western Conference before bowing out to the second-seeded Spurs in the convention semifinals.