American businessman Marc Stad has completed a deal to become the controlling owner and largest shareholder of the Minnesota Timberwolves and Minnesota Lynx.
The agreement gives Stad control of both Minnesota basketball franchises, covering the NBA's Timberwolves and the WNBA's Lynx. The move represents a significant ownership development for two of the state's most prominent professional sports teams.
The Timberwolves compete in the NBA's Western Conference, while the Lynx are one of the WNBA's established franchises. With the deal completed, Stad now holds the lead ownership position across both organizations.