Glenn Stearns, the Stearns Lending founder who appeared on *Undercover Billionaire*, has closed a majority stake in the Minnesota Timberwolves and Lynx, replacing Marc Lore and Alex Rodriguez as controlling owners after their acquisition attempt collapsed in 2024. The deal values the combined franchises near $4 billion, according to people familiar with the structure, and marks the first NBA-WNBA ownership transition since the league's current growth cycle began in earnest.
Stearns acquires the stake from Glen Taylor, the 83-year-old printing magnate who retained control after Lore and Rodriguez failed to meet payment deadlines on their staged buyout. Taylor remains a minority holder. Stearns brings no prior professional sports ownership; his track record is mortgage origination and reality television. The Lynx, coached by Cheryl Reeve, won four WNBA titles between 2011 and 2017 but missed the playoffs in 2024. The Timberwolves reached the Western Conference Finals last season with Anthony Edwards and Karl-Anthony Towns, then traded Towns to New York three months later.
The Lynx valuation embedded in this deal matters more than the NBA number. Stearns is paying for both franchises as a package, and league sources estimate the Lynx alone now carry an implied valuation north of $200 million—roughly double the $115 million Caitlin Clark's ownership group paid for an unnamed expansion team in late 2024. That gap reflects operating history, market size, and arena control. The Lynx play in Target Center, which the Timberwolves control under a long-term lease with the city. Reeve, who also serves as president of basketball operations, has publicly welcomed the ownership change, noting that stability and capital commitment drive competitive outcomes in a league where payroll is capped but infrastructure spending is not.
The WNBA's 2025 season begins with 13 teams and a new media deal worth $200 million annually, five times the prior contract. Franchises now compete for head coaching talent, front-office executives, and practice facility investment in ways that mirror NBA team-building two decades ago. Stearns enters as the WNBA expands into Portland, Toronto, and an unnamed 16th market by 2028. His mortgage-backed fortune, built during the subprime boom and salvaged through restructuring, positions him as a transactional operator rather than a legacy holder. The Lynx need a new practice facility; the Timberwolves need to extend Edwards before his 2027 free agency. Both require Stearns to write checks Taylor was unwilling or unable to write.
Minnesota's dual-franchise model now functions as the test case for whether WNBA teams genuinely add strategic value or remain philanthropic add-ons. Stearns has no public track record in sports, which means he either sees arbitrage others missed or overestimated his ability to extract revenue from two franchises that share overhead but compete for attention in a secondary U.S. market. Reeve's endorsement suggests the Lynx expect capital deployment, not cost management.
Watch for Stearns to hire a dual-franchise CEO within 90 days, likely from outside basketball. The Lynx coaching staff contracts expire after the 2025 season; Reeve's next deal sets the market for WNBA head coaches with equity stakes. The Timberwolves have a $30 million trade exception from the Towns deal, usable until June. Stearns will also face immediate scrutiny on Target Center renovations, which lag peer NBA venues and lack WNBA-specific amenities that newer arenas are building as baseline.
The Lore-Rodriguez collapse cost them $300 million in equity already paid to Taylor, forfeited when they missed the final payment deadline. Stearns acquired that equity at a discount to the original strike price, according to league observers, meaning he enters with structural leverage Taylor lacked. The question is whether he converts that leverage into championships or flips both franchises within five years to a buyer who wants the NBA asset and inherits the WNBA one. His first 12 months will clarify which path he chose before he signed.
The takeaway
Stearns paid **$4B** for both franchises; the Lynx alone now price above **$200M**, resetting WNBA floor valuations for every expansion bid.
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