Source: https://www.nytimes.com/athletic/7520728/2026/08/21/timberwolves-sale-lynx-owner-marc-lore-stad/?unlocked_article_code=1.7FA.r89s.fhtnc6FUpr8J&source=user_shared_article&smid=ta-ios-share

Stad founded Dragoneer, which manages over $35 billion in capital, according to Forbes, in 2012. Stad had been a limited partner in the group helmed by Lore and Rodriguez, working behind the scenes as they charted a course forward for the organization.

Stad and his wife, Elisa, will now serve at the head of the ownership table. Elisa will be the designated governor for the Timberwolves to allow Marc Stad to be fully engaged at Dragoneer. Elisa spent two decades working around the globe as an executive in consumer branding before the couple co-founded the University of California-San Francisco’s Stad Center for Pediatric Pain, Palliative & Integrative Medicine.

Rodriguez will retain his position as governor of the Lynx, who are in first place in the WNBA standings as the playoffs approach behind the play of rookie phenom Olivia Miles and veteran Napheesa Collier.

Unlike the wholesale changes that rocked the Los Angeles Lakers when Mark Walter stunningly sold to Joshua Kushner and Bob Iger last week, the Timberwolves’ transaction amounts to a reorganization of team structure. Lore goes from the largest single investor to a limited partner, with less money tied up and more time to devote to Wonder. Stad moves up from No. 3 to No. 1. Rodriguez holds firm as the second-largest shareholder.

The group’s stated plans to build a new arena in the Twin Cities and keep the Timberwolves in Minnesota for the long term are unchanged, the team sources said.

That said, this still represents a monumental shift just over a year after Lore and Rodriguez assumed full control of the Wolves and Lynx following a bitter battle with previous owner Glen Taylor.

…

Lore turned down opportunities to sell his controlling interest for more than the $4.5 billion valuation at which Stad is purchasing it, a league source familiar with the market told The Athletic on the condition of anonymity because the discussions were private. But Lore chose continuity over price tag to ensure all of the work the group has done over the past year could continue uninterrupted.