Five years after landing in Minnesota alongside Alex Rodriguez with grand ambitions to transform two struggling franchises, Marc Lore has taken a significant step back. The billionaire entrepreneur has sold his controlling stake in the Minnesota Timberwolves and Lynx, handing the reins to his partner and close friend, Marc Stad.

But if you were expecting a clean break, Lore’s latest message suggests otherwise. This wasn’t the ending he had in mind, and he’s not ready to call it goodbye just yet.

Marc Lore addressed the ownership change in an Instagram post featuring photos of himself and Rodriguez at Timberwolves games, writing, “Yesterday, I sold my controlling interest in the Minnesota Timberwolves and Lynx to my partner and friend, Marc Stad.”

Lore explained that Stad’s decision to take over his controlling stake would preserve the continuity of the ownership group Lore and Rodriguez had built over the past five years.

He also called Stad “an important part of our ownership group,” and he had “tremendous confidence” in him as the new co-chairman alongside Rodriguez.

The announcement closes a significant chapter for Lore. In the years since joining Rodriguez’s ownership group, he became one of the most recognizable faces around Minnesota basketball – a regular courtside presence who genuinely embraced the community rather than simply writing checks from afar.

That connection made the decision all the harder.

Lore acknowledged that walking away from the controlling position wasn’t easy. In his own words, he had fallen in love with the Timberwolves, with the fans, the players, the staff, and a community that had made Minnesota feel like home.

However, another business now demands his attention.

Lore also opened up about the other side of the equation. His food and technology startup, Wonder, has reached a pivotal moment, with an IPO on the horizon for next year, the business demands the kind of focused attention that simply can’t be split. Running two major professional sports franchises at the same time isn’t exactly a background task, and rather than stretch himself thin across both worlds, Lore made the call to step back.

Still, the move does not remove him from the picture entirely.

Lore confirmed that he will remain an owner and continue working with Marc and Elisa Stad, Rodriguez, and the rest of the organization. His message repeatedly emphasized continuity rather than separation.

That distinction matters.

Marc Stad takes control as Lore keeps his touch with Timberwolves

Marc Stad is hardly an outsider entering the organization at the last minute. As Lore noted, he has already played an important role within the ownership group alongside Lore and Rodriguez. His elevation to the controlling position, therefore, allows the Timberwolves and Lynx to avoid the uncertainty that can accompany a complete change in ownership.

The same goes for Rodriguez. 

Lore reserved a significant part of his message for his longtime business partner and friend, thanking Rodrigues for everything they had accomplished together over the past five years. Their original vision, he insisted, remains intact. 

“Our shared goal has not changed: to win championships and make Minnesota proud,” Lore wrote.

That message arrives at an important moment for the Timberwolves.

In many ways, the franchise Lore is stepping back from looks nothing like the one he walked into. The Timberwolves have grown into a genuine Western Conference threat, powered largely by the rise of Anthony Edwards into one of the game’s brightest stars.

And heading into the new season, the organization hasn’t been shy about shaking things up. Gone is the imposing frontcourt identity that once defined them – Karl-Anthony Towns, Julius Randle, and Naz Reid have all moved on over the past three seasons. In their place, Minnesota is betting big on its backcourt, pairing Edwards with flashy new addition LaMelo Ball to form one of the more exciting duos the conference has seen in recent memory.

The ownership group, meanwhile, has undergone its own evolution. 

Marc Lore’s decision to prioritize Wonder does not erase his contribution to that transformation. But it does change who will carry the largest share of responsibility moving forward. Stad now steps into the controlling position with Rodriguez beside him. Meanwhile, Lore remains connected to the franchise from a different place.

And for Minnesota fans, that may be the central takeaway from Lore’s statement.

He’s stepping back, not disappearing. “This is not a goodbye,” Lore wrote.