The Minnesota Timberwolves and WNBA's Minnesota Lynx have been sold in a deal valuing the combined franchises at $4.5bn. American businessman Marc Lore has become controlling owner, acquiring the majority stake from co-chairman [PERSON_NAME]. He joins former MLB star Alex Rodriguez as co-chairman. Lore confirmed the news Friday, stating he will increase his investment and spend more time with the teams as co-chairman, Governor of the Lynx, and alternate Governor of the Timberwolves, pending league approval. The valuation represents the fourth-largest franchise sale in NBA history.

Lore and Rodriguez initially invested in 2021 at a $1.5bn valuation, assuming full control last year. This marks the second major NBA ownership change this month following the LA Lakers' record sale. The Timberwolves reached the Western Conference Finals last season but lost to the San Antonio Spurs.