Marc Stad acquires controlling interest in Timberwolves from Marc Lore

Marc Stad is buying the controlling interest in the Minnesota Timberwolves and Lynx from Marc Lore at a franchise valuation of $4.5 billion. Stad, previously a minority owner, takes on a larger role, while Alex Rodriguez remains involved as the public face of the ownership group. Lore is stepping back to focus on other business ventures. The ownership change is described as more of a reorganization rather than a dramatic sale, with no significant changes expected in the franchise's operations or plans for a new arena. The sale is pending approval from the Board of Governors.

• 4:04 PMYahoo Sports — Marc Stad buying controlling interest in Timberwolves from Marc Lore; Alex Rodriguez remains