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Alex Rodriguez to increase stake as Marc Stad becomes new controlling owner of Timberwolves, Lynx
🇩🇴 Dominican Republic /Sports

Alex Rodriguez to increase stake as Marc Stad becomes new controlling owner of Timberwolves, Lynx

From Diario Libre · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • NBA and WNBA teams Minnesota Timberwolves and Lynx will have a new controlling owner, Marc Stad.
  • Alex Rodriguez will remain a significant figure, increasing his equity stake.
  • The deal values the franchises at $4.5 billion and awaits NBA approval.

The Minnesota Timberwolves and Minnesota Lynx are set to welcome a new controlling owner, businessman Marc Stad, who has reached an agreement to acquire the majority stake from Marc Lore. This transaction values the NBA and WNBA franchises at $4.5 billion. While Stad takes the helm as the principal shareholder, Alex Rodriguez, a former MLB star, will continue to play a crucial role within the ownership group.

Rodriguez is not exiting the project; instead, he will remain a co-owner of both teams and, according to sources cited by ESPN, will increase his equity percentage. The agreement follows months of discussions between Stad and Lore, allowing the three businessmen to collaborate. Current leadership structures within both franchises are expected to remain in place. Stad's wife, Elisa, is slated to become the governor of the Timberwolves.

We have been working together for years with the shared goal of making the Timberwolves and Lynx the best organization in basketball, on and off the court.

— Marc Stad, Marc Lore, and Alex RodriguezJoint statement expressing their shared vision for the franchises.

"We have been working together for years with the shared goal of making the Timberwolves and Lynx the best organization in basketball, on and off the court," Stad, Lore, and Rodriguez stated in a joint release. They emphasized that their primary sporting objective remains unchanged: "Our priority is and always will be championships." The deal, however, requires approval from the NBA Board of Governors, with a meeting scheduled for September 15-16.

Lore is reducing his active involvement to focus on taking his food technology company, Wonder Group, public next year, though he will remain a minority investor. Rodriguez and Lore initially acquired minority stakes in the Timberwolves and Lynx from Glen Taylor in 2021, later assuming majority control last year. With Stad's impending role as controlling owner, Rodriguez's increased participation solidifies his influence within these prominent Minnesota sports franchises. His career in Major League Baseball may be over, but his impact on American professional sports continues to grow from the executive level.

Our priority is and always will be championships.

— Marc Stad, Marc Lore, and Alex RodriguezJoint statement affirming their competitive goals.
DistantNews Editorial

Originally published by Diario Libre in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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