Minnesota Timberwolves and Lynx co-owner Marc Lore has agreed to sell his controlling stake in the franchises to businessman and limited partner Marc Stad.

The deal values the NBA and WNBA franchises at $4.5 billion, ESPN reported.

Alex Rodriguez, a 14-time MLB All-Star and FOX MLB studio analyst, said Friday that he plans to increase his equity stake in both franchises. Lore, meanwhile, will retain a minority stake. The size of Lore’s and Rodriguez’s respective ownership stakes was not immediately clear.

Lore stepped away from his roles as co-owner and co-chairman to focus on a planned IPO for his food-tech company, Wonder Group, over the next…

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