A-Rod increases stake in Timberwolves and Lynx as part of ownership change

[p]The reshuffle at the NBA and WNBA teams also sees tech investor Marc Stad go from minority investor to controlling owner, replacing co-chairman Marc Lore, who will remain in a more limited role.[/p][p]The $4.5 billion valuation puts the [a href="https://www.flashscore.ca/team/minnesota-timberwolves/KjBIVQcI/"]Timberwolves[/a] fourth on the list of largest franchise sales in NBA history, according to ESPN, which broke the news.[/p][p]"One of the great joys I've had in my career is spending the last few years helping build the Timberwolves and [a href="https://www.flashscore.ca/team/minnesota-lynx/AeUcuq4r/"]Lynx[/a] with my friend and partner Marc Lore," Rodriguez posted on social media.[/p][p][b]"I'm very excited to announce that this incredible journey reaches a new level today.[/b][/p][p][b]"Marc and Elisa Stad, who have been our partners and friends since we bought the teams, will be increasing their investment and joining me as Co-Chairman.[/b][/p][p][b]"I will also be increasing my investment and spending even more time with the teams as Co-Chairman, Governor of the Lynx, and alternate Governor of the Timberwolves, pending league approval."[/b][/p][embed guid="0384b685-5737-43f0-afd7-9230ef308d9c" url="https://x.com/AROD/status/2090854765261447389" social-type="twitter" /][p]Lore, a businessman, and Rodriguez, a 14-time MLB All-Star who won a World Series in 2009 with the New York Yankees, finally took over the teams following league approval last summer.[/p][p]That had ended a years-long process after previous owner Glen Taylor agreed to a reported $1.5 billion deal in 2021, but subsequently tried to stop the sale.[/p][p]The T-Wolves went 49-33 for a second straight year last season. In the playoffs, they eliminated the [a href="https://www.flashscore.ca/team/denver-nuggets/CxvW27TI/"]Denver Nuggets[/a] before falling to the [a href="https://www.flashscore.ca/team/san-antonio-spurs/IwmkErSH/"]San Antonio Spurs[/a] in the Western Conference semi-finals.[/p][p][b]"I could not be more energised about this evolution and what we're all going to do together for the Twin Cities,"[/b] said Rodriguez.[/p]