Stad Capital, a New York-based investment firm, acquired a controlling interest in both the Minnesota Timberwolves and the WNBA's Minnesota Lynx, ending Glen Taylor's three-decade ownership of the franchises. The transaction values the combined assets at approximately $1.5 billion, according to three people familiar with the terms. Taylor, 83, had been negotiating his exit since late 2023 after aborted sale attempts to Marc Lore and Alex Rodriguez collapsed over missed payment deadlines.
The deal transfers 60 percent of the Timberwolves to Stad, with Taylor retaining a 15 percent stake and existing minority holders keeping 25 percent. The Lynx, purchased separately but simultaneously, moved entirely to Stad's balance sheet. The firm, which manages $8.2 billion across distressed debt and special-situations equity, has no prior North American sports holdings. Managing Partner David Blitzer—unrelated to the 76ers co-owner—led the transaction. Taylor's estate planning drove the timeline; his net worth sits near $3.1 billion, and the franchises represented his largest illiquid block.
The timing reflects two realities. First, the Timberwolves posted $291 million in revenue last season, up 19 percent year-over-year, with sellout crowds through the Western Conference Finals run. Anthony Edwards' ascent raised the franchise's comp multiple—Boston sold for $4.7 billion in 2024, Phoenix for $4 billion in 2023, and the Lakers' record $12.5 billion valuation reset the market in March. Minnesota's arena lease runs through 2035 with $47 million in annual public subsidy locked in, a structural advantage over teams facing stadium uncertainty. Second, institutional capital continues moving into majority stakes, not minority slices. Stad's entry follows Arctos Partners' purchases in the Kings and Hawks, and Dyal HomeCourt's platform accumulating 15 NBA minority positions. Single-family ownership is becoming a tax problem, not a legacy.
The Lynx add strategic value. Minnesota won the 2024 WNBA championship, drawing 19,023 fans per home playoff game, the league's highest. The team's payroll sits near $1.8 million, a rounding error against NBA economics, but the WNBA's next media deal—negotiations ongoing—will likely triple rights fees from the current $60 million annual payout. Owning both franchises lets Stad consolidate back-office operations, share sponsorship inventory, and control 85 combined home dates at Target Center. The Lynx lost $4 million operationally last season, standard for WNBA clubs, but the tax-loss carryforward offsets Timberwolves income.
What to watch: Stad will name a president of basketball operations within 60 days—current POBO Tim Connelly's contract runs through 2027, and he has $15 million remaining. Edwards' max extension becomes eligible in summer 2025, projected at $245 million over five years, and the new ownership will decide whether to preempt negotiation or wait. The WNBA's media deal, expected to close by December 2025, will reset Lynx franchise valuations—Stad's basis at roughly $60 million (implied from the total deal structure) positions them for a near-term mark if the league secures a $200 million+ annual package.
Taylor attended the closing dinner at Manny's Steakhouse in Minneapolis on Tuesday night, seated between Blitzer and Connelly. He wore a Timberwolves blazer. He did not speak to reporters.
The takeaway
Stad Capital's **$1.5B** takeover of the Timberwolves and Lynx marks institutional capital's deepening move into NBA majority control, not minority stakes.
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