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Marc Stad Becomes Timberwolves and Lynx Controlling Owner

8/21/2026

25 4 Full Breakdown

Summary

Story summary

Marc Stad becomes controlling owner of the Minnesota Timberwolves and Lynx in a $4.5 billion deal.
Elisa Stad will serve as Timberwolves governor, letting Marc Stad focus on Dragoneer.
Alex Rodriguez remains co-chairman, will increase his equity stake and stay Lynx governor.
Marc Lore keeps a minority share and will step back to pursue an IPO for Wonder food-tech.
NBA Board of Governors must approve the transaction at its September 15-16 meeting.

History

Historical Context

In June 2014, after the NBA banned Donald Sterling for racist remarks, the Board of Governors approved Steve Ballmer’s $2 billion purchase of the Los Angeles Clippers, the league’s largest franchise sale at that time. The deal followed Ballmer’s earlier, unsuccessful bids to bring an NBA team back to Seattle in 2008, 2012 and 2013, illustrating a pattern of high-profile ownership attempts shaping league economics.

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Story summary

Marc Stad becomes controlling owner of the Minnesota Timberwolves and Lynx in a $4.5 billion deal.
Elisa Stad will serve as Timberwolves governor, letting Marc Stad focus on Dragoneer.
Alex Rodriguez remains co-chairman, will increase his equity stake and stay Lynx governor.
Marc Lore keeps a minority share and will step back to pursue an IPO for Wonder food-tech.
NBA Board of Governors must approve the transaction at its September 15-16 meeting.

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