Timberwolves and Lynx ownership deal carries reported $4.5bn valuation

The Minnesota Timberwolves and Minnesota Lynx are changing ownership in a transaction that reportedly values the NBA and WNBA teams at a combined $4.5 billion. BBC Sport reported that American businessman Marc Stad is moving from minority investor to controlling owner by acquiring most of the stake held by co-chairman Marc Lore.

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Under the announced structure, Stad will join former Major League Baseball star Alex Rodriguez as co-chairman. Rodriguez confirmed the change on Friday and said he would increase his own investment in the teams. He also said Marc Stad and Elisa Stad, already investors in the ownership group, would expand their commitment.

Rodriguez said his planned responsibilities include serving as co-chairman, governor of the Lynx and alternate governor of the Timberwolves. Those roles, as well as the wider transaction, remain subject to league approval. The announcement therefore establishes the intended ownership arrangement, but the reported changes are not yet presented as fully unconditional.

The reshaping follows the ownership group's entry into the franchises in 2021. BBC Sport said Lore and Rodriguez initially invested at a $1.5 billion valuation under an agreement designed to lead to a full purchase. They assumed full control of the basketball teams last year, with Stad participating as a minority investor before this latest transaction.

ESPN first reported the new valuation before Rodriguez issued his statement, according to BBC Sport. At $4.5 billion, the transaction would rank as the fourth-largest franchise sale in NBA history. The scale of that figure also represents a threefold increase from the valuation attached to the 2021 investment, although the ownership positions and timing differ between the two deals.

The change comes during a busy period for NBA franchise ownership. BBC Sport reported that it is the league's second major ownership change this month, following the record-breaking sale of the Los Angeles Lakers last week. On the court, Minnesota's NBA team advanced to the Western Conference stage last season before losing to the San Antonio Spurs. The immediate next step for the ownership plan is approval from the relevant leagues.