Marc Lore is officially out as majority owner and governor of the Minnesota Timberwolves, less than two years after he even took over the franchise. Talk about a swift exit! ESPN’s Shams Charania dropped the news that Marc Stad is taking the reins as the new controlling owner for both the T-Wolves and the WNBA’s Minnesota Lynx, buying a majority of Lore’s interest in a deal valued at a staggering $4.5 billion. Stad, Lore, and Alex Rodriguez all confirmed the sale in a statement just this Friday. This is wild, considering it was less than two years ago that Lore and Rodriguez completed their purchase of the team.
The Whirlwind of NBA Ownership Changes and a Battle for Control
This isn’t just another casual change of hands, this is the ninth NBA franchise sold since 2022 alone! You gotta remember how recently Mark Walter agreed to sell the Lakers to Bob Iger and Joshua Kushner for a whopping $12.5 billion. Other teams like the Phoenix Suns, Dallas Mavericks, Charlotte Hornets, Boston Celtics, and Portland Trail Blazers have all seen new ownership in that same timeframe. But the T-Wolves saga felt different. Lore and Rodriguez’s initial purchase was officially approved by the NBA in June 2025, but only after a prolonged, nasty battle with former owner Glen Taylor. Taylor had claimed back in March 2024 that Lore and Rodriguez straight up lost the financial backing they needed to make their final payment. It was a messy situation that left a lot of fans wondering what was actually going on.
The Big Money Questions That Blew Up Lore’s Tenure
The core issue? Lore and Rodriguez were constantly facing questions about their long-term financial ability to keep a competitive NBA roster together. Adrian Wojnarowski, then with ESPN, reported in April 2024 that a major sticking point for Taylor was a budget projection from Lore and Rodriguez for the 2024-25 season. They reportedly planned to cut $27 million in payroll just to duck under the luxury tax! That’s a huge red flag when you’re talking about building a contender. What’s crazy is that in their lone season as controlling owners, the Timberwolves somehow ended up with the third-highest payroll in the entire NBA. That’s a massive swing from wanting to cut $27 million, making you wonder what kind of financial tightrope they were walking. With Stad’s investment group managing over $35 billion in capital, this move has got to calm some nerves about the team’s financial future.
Despite all the behind-the-scenes drama, the Timberwolves have actually been performing on the court. They’ve made the playoffs for five consecutive seasons, even hitting the Western Conference Finals in both 2024 and 2025. Last season, the team clinched the No. 6 seed in the West, pulled off a huge upset against the Denver Nuggets in the first round, before eventually falling to the San Antonio Spurs in the conference semifinals. Now, with Stad firmly in control, the hope has got to be a period of stability so the team can focus on getting back to the WCF and beyond. The next game is critical, it’s about showing this new era is focused on winning.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Bleacher Report.
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