Marc Stad to Buy Timberwolves Control, Bringing $35 Billion Dragoneer Backing
Updated
Updated · hoopsrumors.com · Aug 29
Marc Stad to Buy Timberwolves Control, Bringing $35 Billion Dragoneer Backing
3 articles · Updated · hoopsrumors.com · Aug 29
Summary
Marc Stad is set to become the Timberwolves' new majority owner by buying shares from Marc Lore, with sources saying he will be heavily involved in organizational decisions.
Elisa Stad will serve as team governor so Stad can keep focusing on Dragoneer Investment Group, the technology-focused firm that manages more than $35 billion in assets.
The ownership shift comes as Minnesota reshapes its roster, adding Jonathan Kuminga on a two-year, $12.4 million deal that Yahoo Sports called a low-cost bet with upside.
Cap maneuvering remains central to that plan: ESPN reported the Wolves do not intend to trade Donte DiVincenzo, while a waive-and-stretch of Josh Green's $14.68 million expiring contract could create room under the second apron.