Marc Stad takes control of Timberwolves in $4.5 billion deal

The agreement makes Stad the largest shareholder of the Timberwolves and Lynx, while Marc Lore retains a minority stake

By Eurohoops team / [email protected]

American businessman Marc Stad has agreed to become the controlling owner of the Minnesota Timberwolves and Minnesota Lynx after purchasing the majority of Marc Lore’s stake at a $4.5 billion valuation, according to ESPN.

Lore will remain a minority investor, while Alex Rodriguez is set to increase his ownership share.