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HALO News Business Marc Stad assumes controlling stake in T...
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Marc Stad assumes controlling stake in Timberwolves, Lynx; Alex Rodriguez remains WNBA franchise's governor

Marc Stad assumes controlling stake in Timberwolves, Lynx; Alex Rodriguez remains WNBA franchise's governor

Minnesota Timberwolves and Lynx co-owner Marc Lore has agreed to sell his controlling stake in the franchises to businessman and limited partner Marc Stad.The deal values the NBA and WNBA franchises at $4.5 billion, ESPN reported.Alex Rodriguez, a 14-time MLB All-Star and FOX MLB studio analyst, said Friday he plans to increase his equity stake in both franchises. Lore, meanwhile, will retain a minority stake. The size of Lore’s and Rodriguez’s respective ownership stakes was not immediately clear.CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COMLore stepped away from his roles as co-owne...

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