MARC STAD BUYS CONTROLLING STAKE IN TIMBERWOLVES FOR £4.5BN

Marc Stad has purchased a majority stake in the Minnesota Timberwolves and Lynx for $4.5 billion (£3.6 billion), according to reports. Stad acquired the majority of co-owner Marc Lore's stake in the franchises. Stad will become the controlling owner following the transaction.

The NBA Board of Governors unanimously approved a previous ownership structure change involving Alex Rodriguez and Marc Lore in 2025. This latest transaction represents the second significant ownership movement in Minnesota's major basketball franchise since that approval.