The NBA’s sale market has gotten so loud that even a franchise like the Chicago Bulls can’t help but sit in the conversation.
That’s the backdrop after another major ownership shake-up hit the league on Friday morning, when ESPN’s Shams Charania reported that Minnesota Timberwolves co-owner Marc Lore is selling his stake to businessman Marc Stad. Stad will become the controlling owner and largest shareholder of the team, while Alex Rodriguez stays on as a co-owner. Stad will also hold a majority stake in the Minnesota Lynx.
Charania also reported that Stad has been a minority owner for some time and had been in talks with Lore for months. It’s the latest huge change at the top of an NBA franchise, and it comes not long after the Lakers’ ownership situation produced another massive headline.
The Lakers’ control moved from the Buss family to Mark Walters in October of 2025 for $10.0 billion, then surged again this summer in a sale to Bob Iger and Josh Kushner at $12.5 billion. Add that to the Celtics’ $6.1 billion sale and the Timberwolves/Lynx deal at $4.5 billion, and the four biggest sales in NBA history have all happened since March of 2025.
That kind of run naturally puts every big-market owner under the microscope, even if they’re not looking to move on. Jerry Reinsdorf has long been viewed as someone who would keep the Bulls in the family, and his son Michael appears to be taking on more of the operation. The expectation has been that the franchise stays in the Reinsdorf hands for the long haul.
Still, the math is impossible to ignore. The Chicago Tribune first reported that Reinsdorf bought the Bulls for $9.2 million in 1985, and a $16.0 million figure has also been cited before. Whatever the exact number, the return would be staggering by any measure.
Could Chicago get into the same territory as the Lakers’ record-setting numbers? Probably not. But the Celtics’ $6.1 billion sale shows just how far franchise values have climbed, and the Bulls would almost certainly be in position to command a massive haul if they ever hit the market.
The timing would make sense, too. The organization is already in the middle of a major transition period, and the market is about as hot as it gets. Owners don’t often get a chance to strike while valuations are this inflated, and this league has now shown that buyers are willing to pay eye-popping prices.
Chicago may also have a ready-made business connection waiting in the wings. Earlier this year, the Bulls announced that Lukas and Samantha Walton, from the Walmart family, bought a minority stake in both the team and the United Center. In that same release, the Bulls noted the Waltons’ admiration for the 1901 Project on the West Side, which is set to significantly revamp the area around the arena.
That doesn’t mean the Waltons would automatically get first shot at buying the franchise if the Reinsdorfs ever decided to sell. But it does mean the relationship already exists, and that matters. Minnesota just showed how valuable an established business partner can be in a deal like this.
There’s also the White Sox angle. The Reinsdorf family has already agreed to a plan that will gradually transfer the franchise to Justin Ishbia. Under that arrangement, the White Sox are expected to fully belong to Ishbia by the 2034 campaign, with the option for him to take over sooner.
So while the Bulls are not believed to be heading to market anytime soon, the broader picture has changed. The Reinsdorfs have shown a willingness to talk business, and the NBA’s latest wave of blockbuster sales only strengthens the idea that every franchise has a number. The Bulls are one of the league’s marquee brands, and in a market this wild, that makes them a tempting prize.
In Other News...
Bulls Front Office Has Fans Asking If A Real Direction Finally Exists
The Bulls front office got a little more respect in CBS Sports analyst Sam Quinns latest offseason rankings, landing higher than the bottom-tier spots it had occupied before. Chicago has tried to reshape its decision-making structure this summer, moving on from Arturas Karnisovas and Marc Eversley and putting Bryson Graham in charge as the new general manager, a notable shift for a team that has spent too long searching for clarity.
There are signs the new setup is at least trying to be more proactive, with the Norman Powell signing and the additions of Zach Collins and Nic Claxton drawing some attention. Still, the bigger question around the Bulls is whether those moves add up to an actual direction or just another batch of isolated decisions, and that judgment will have to come from what happens next. [Read more 🡒]
Bulls Rebuild Comes With A Timeline Fans May Hate
The Bulls have already spent much of the last year reshaping the organization, with changes in the front office, coaching staff and roster all aimed at pulling the franchise out of its holding pattern. But a recent long-view projection from Stephen Noh of The Sporting News suggests the patience required in Chicago may still be measured in seasons, not months, even if the early signs of a reset are finally in place.
Nohs outlook points to a team that could eventually climb back into the playoff mix, but only after more roster building and another major round of flexibility arrives in 2027. The idea is that Chicago would still be waiting to turn that groundwork into something more stable by the end of the decade, with a younger core and enough resources to keep adding around it. [Read more 🡒]
Matas Buzelis Just Reopened A Huge Bulls Fit Question
Matas Buzelis has been giving Bulls fans plenty to think about, and his latest appearance on the Cousins with Vince Carter & Tracy McGrady podcast only added another layer to the conversation. The young forward talked about how opponents have started to scout him as a physical player, and he also reflected on his role with the Lithuanian national team, where his usage has already been shaped in different ways than what Chicago might eventually ask of him.
For the Bulls, that matters because Buzelis is still in the middle of defining what kind of offensive player he will become at the NBA level. His current production and shot profile already invite questions about how he fits into the long-term build, especially with the 2026-27 season in mind. If his development keeps trending in one direction, the Bulls may eventually have to decide whether his best value comes from spacing the floor or something more demanding. [Read more 🡒]