The Minnesota Timberwolves and Lynx officially have a new majority owner, with tech investor Marc Stad shelling out an incredible $4.5 billion valuation to buy out Marc Lore’s stake. Stad, who was already a limited partner in the franchises, is now the man in control after this latest, massive transaction.
Another Quick Flip for the Wolves?
This is wild, right? It feels like just yesterday we were talking about Marc Lore and Alex Rodriguez finally wrapping up their $1.5 billion purchase from Glen Taylor. That whole saga, initiated back in 2021, even had a protracted legal battle before Lore officially became the majority owner last summer. Now, just 14 months later, Lore’s out. He’s reportedly selling his stake to focus on taking his food delivery company, Wonder, public. Talk about a quick flip! He basically bought the team, held it for just over a year, and walked away with a $3 billion increase in its valuation. Who wouldn’t want that kind of return? It’s a genius business move for Lore, no doubt, but it’s gotta be a head-scratcher for the loyal Wolves fans trying to keep up. The one consistent in all this appears to be Alex Rodriguez, who is reportedly staying on and investing even more to increase his stake. So, at least A-Rod still believes in the squad, right? That’s something to hold onto.
The League’s Valuation Skyrocket Is Real
This latest T-Wolves sale, coming just a week after Mark Walter sold the Lakers for a mind-boggling $12.5 billion, makes you seriously wonder what’s going on with NBA ownership across the board. While Walter’s situation was unique due to federal investigations into his finances, Lore’s exit screams “cash out while the getting’s good!” The league’s new $77 billion national TV deal has sent franchise valuations absolutely skyrocketing. Teams that were once seen as just “vanity projects” for the super-rich are now bona fide key business holdings, and owners are treating them as such. This isn’t unique to Minnesota, either. We’ve seen ten teams , the Lakers, Celtics, Trail Blazers, Timberwolves, Mavericks, Rockets, Suns, Hornets, Jazz, and Nets , sell in the last decade alone. Both the Lakers and Wolves have now sold twice in that short span. The Wolves’ valuation has tripled in the five years since Lore first started buying into the team in 2021. It’s a huge profit opportunity, and owners are seizing it.
For fans, though, this constant buying and selling can be a tough pill to swallow. More frequent ownership changes often mean less stability for a franchise, and there’s always that lingering concern for smaller market clubs that new ownership groups without deep ties to the area might push for relocation. But here’s the glimmer of hope for Minnesota: Marc Stad, the new controlling owner, is reportedly committed to keeping both the Wolves and Lynx right there in Minnesota. Plus, he’s going to continue pushing for a new arena, which is massive for the team’s long-term future and overall fan experience. Will Stad bring the stability and steady hand these teams desperately need after all these ownership merry-go-rounds? That’s the million-dollar question.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by CBS Sports.
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