Tech investor Marc Stad has agreed a deal to acquire a controlling stake in the Minnesota Timberwolves and Lynx. Marc Lore is transferring the primary stake to Stad at a $4.5B market valuation.
Media outlets such as ESPN, The New York Times, Axios, and Yahoo Sports reported the major transaction on Friday, 21 August 2026. The $4.5 billion agreement passes authority of the Minnesota basketball teams to Stad. Lore signed off on the transaction, handing over operational control of both the Timberwolves and the Lynx to the technology investor.