Jon Krawczynski:

Marc Lore is selling controlling interest in the Timberwolves and Lynx to Marc Stad, who has been a limited partner in the ownership group, sources tell The Athletic. Lore will remain as a limited partner. Stad and Alex Rodriguez are the new tandem leading the way in Minnesota.

Marc Stad has been a quietly influential figure in the Wolves ownership group ever since Lore and Rodriguez took over. Lore is taking a step back to focus on taking his company Wonder public. A reorganization at the top of the food chain in Minnesota at a valuation of $4.5B

What I’m told on what is always the biggest question in a change of ownership power: Stad is fully on board with Lore and Rodriguez’s position that they will not move the Wolves and Lynx and is all in on building a new arena in Minnesota.

nutswrld | Spurs

18 | 3 hours ago

A new arena 🥀

HokageEzio | Knicks

28 | 3 hours ago

They have the oldest arena in the league that isn’t MSG, they were always going to be making a new arena.

_Wash | Timberwolves

10 | 3 hours ago

Target Center is in a great location.

That’s pretty much the only great thing about it lol.

The contrast between that and the Buck’s Fiserv Forum or the United Center is absolutely insane. It feels like a trash heap

ChiefPatty | Timberwolves

2 | 2 hours ago

It’s a trash heap compared to the Xcel and the Xcel opened in 2000

Definitely going to be tough for the next arena to be in a better location

anIndoorMoose

1 | 2 hours ago

Lots of preliminary talks bring up city walk as a location

YungSzczerbiak | Timberwolves

2 | an hour ago

City Center? Yeah that’s most likely. I could see them swooping in for the Strib spot if the data center falls through. That’s a monster footprint

theb3arjevv | PHI

1 | 2 hours ago

I miss the old Bucks arena, solely because of the Dwight pls post.

plaregold | South Sudan

11 | 3 hours ago

Does all in mean that they’ll 100% privately fund the new arena?

Hypnosix | Timberwolves

15 | 3 hours ago

That’s what Lore and Arod had been saying previous to this sale. It’s not done until it’s done but the top 3 owners are still the top 3 owners so it sounds like they haven’t changed any of their plans.

enemycap420 | Timberwolves

3 | 2 hours ago

I always felt like it was PR bullshit that they wanted to privately fund the stadium. I hope I’m wrong but their statement seemed pretty wishy washy when talking about who would fund the stadium.

LamarMillerMVP | Timberwolves

1 | 25 minutes ago

The privately funded stadiums are getting more popular as the teams are getting more expensive. Often a big part of the pressure for public financing is that the surrounding area gets a glow up, and the city and state like that as well. Now the super rich people like to go in the opposite direction and do the glow up, and capture that value as well.

If you buy the Bucks for $550M and then need to build Fiserv for $600M, it makes sense if you aren’t prepared to put $600M + investments in surrounding real estate into the stadium project. But when you buy the Wolves for $4.5M, now a $1B follow on investment doesn’t seem so preposterous.

LeetcodeFastEatAss | Timberwolves

4 | 3 hours ago

They’re all in to do it with your money 🫵

BigOlPass

6 | 3 hours ago

But I like Target Center

OFmerk | Timberwolves

5 | 3 hours ago

You might be the only one

BigOlPass

9 | 3 hours ago

Really? It’s so convenient to get to with you being able to drive right into the parking garage and go inside. The arena itself isn’t anything special but it’s nice

Lexitech_

4 | 3 hours ago

The new arena will (likely) just be a couple blocks away.

BigOlPass

5 | 3 hours ago

Well unless I can park right front the interstate and then get in through a skywalk it will be worse to me

addictivesign

0 | 3 hours ago

Very likely they will take what works already and just make a new arena in the same location and then charge fans more especially with the luxury amenities.

ThrobbinRicke

1 | 3 hours ago

I’ve been to about 10 NBA arenas and its still in the top half for me. What dont you like about it?

_Wash | Timberwolves

5 | 3 hours ago

The concourse/vendor setup is god-awful and very narrow and there’s plenty of obstructed sightlines in the upper level

WhyIsBreadExpensive | Timberwolves

1 | an hour ago

Yeah the obstructed sightlines don’t get talked about enough now with the fact that we do sellout/fill games with the team being good again. Before it wasn’t an issue as ppl would buy whatever and bad seats wouldn’t get filled.

I’m onboard for a new arena if they keep it in the city, not taxpayer funded if possible.

SkarpiTellsAStory

1 | 2 hours ago

Agree it’s perfectly fine

KickerofTale | Timberwolves

1 | 2 hours ago

It’s a pretty steep arena and the majority of the seats are in the upper deck

Beetle919 | Hornets

5 | 3 hours ago

Are they just reshuffling seats at the table?

Odoaiden | Timberwolves

6 | 3 hours ago

Yes

dkleckner88 | Timberwolves

2 | 3 hours ago

Essentially yes. And giving Stad’s wife an executive within the Wolves

CrashInto_MyArms

-2 | 3 hours ago

Send the pelicans or grizzlies to Seattle.

bzl33

-5 | 3 hours ago

Stad is fully on board with Lore and Rodriguez’s position that they will not move the Wolves and Lynx and is all in on building a new arena in Minnesota.

Yeah probably. But also this is the perfect time to play chicken and threaten a move to Seattle to strong arm a local government. These VC/PE who buy these teams do not have the net worth to buy the team in the first place, so how can they self-finance a stadium?

Bob_Bobert | Warriors Bandwagon

3 | an hour ago

Seattle has probably lost a lot of its potency as a threat now that they are taking specific steps towards expansion (taking bids).

TheRealAmeil

1 | 25 minutes ago

The Toronto Timberwolves it is then

[Krawczynski] What I’m told on what is always the biggest question in a change of ownership power: Stad is fully on board with Lore and Rodriguez’s position that they will not move the Wolves and Lynx and is all in on building a new arena in Minnesota.