[Krawczynski] Alex Rodriguez and Marc Lore in serious talks to become the next owners of the Minnesota Timberwolves

Post #101 » by **Worm Guts** » Wed Apr 14, 2021 12:11 pm

UnFadeable21 wrote:Now imagine both teams getting Cade Cunningham, Jalen Suggs or Evan Mobley as well. The NBA has plenty of talent to support two more NBA teams.

It won't happen for this years draft. Once expansion is announced, they'll get at least a year to build up their organizations before expansion drafts and picking actual players.

thinktank · Post #102 » by **thinktank** » Wed Apr 14, 2021 12:30 pm

Rookie-Mistake wrote:But they're still gonna move the team

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Derpa derp.

KGdaBom · Post #103 » by **KGdaBom** » Fri Apr 16, 2021 6:31 pm

Still no deal. We may be getting jerked around again.

Post #104 » by **Klomp** » Sun Apr 18, 2021 12:34 pm

https://www.instagram.com/stories/arod/2554332831171750980/

Post #105 » by **Klomp** » Sun Apr 18, 2021 1:46 pm

Taylor, who turns 80 on Tuesday, is sensitive about vacating local ownership.

“I know — I tried really hard to find somebody local because I think that would even be better yet,” he said. “But nobody came forward. I found a couple guys, but they wanted to come in as limiteds (investors). I mean, it’s so much money. They were willing to put in a bunch of money, but still it’s so much money.”

Taylor will provide those local names to Lore and Rodriguez. Taylor confirmed the $1.5 billion purchase price, which includes the WNBA Lynx, for the Pioneer Press. Taylor remaining as majority owner for two years before Lore and Rodriguez are to take over wasn’t his idea, he said, but that of the prospective owners so they could learn from him. Taylor told them he would leave immediately if that’s what they wanted or stay to advise them. Other suitors who were interested in buying the Wolves also asked Taylor if he would stay for a while should they make a deal. Taylor wouldn’t confirm, but it’s a good bet that Lore and Rodriguez will use the two years to get their finances in order for the $1.5 billion purchase. It’s also clear that Lore, whose wealth is estimated at nearly $2 billion, will be the primary money partner in the deal, not Rodriguez.

https://www.twincities.com/2021/04/17/charley-walters-3/

Nick K · Post #106 » by **Nick K** » Sun Apr 18, 2021 5:13 pm

Klomp wrote:

Watch on YouTube

Watch on YouTube

I have never been more impressed in a guy than Marc Lore. Maybe because he mirrors my thinking in so many ways that I can't help it. It was so unexpected to be nodding up and down to everything he's saying.

ARod might get all the press but Marc Lore is the real deal. We will get really lucky when this deal goes through.

I really hope people will give this long interview a look and get to know the potential new Wolves owner. You will be impressed too.

Post #107 » by **Klomp** » Sun Apr 18, 2021 7:07 pm

Nick K wrote:I have never been more impressed in a guy than Marc Lore. Maybe because he mirrors my thinking in so many ways that I can't help it. It was so unexpected to be nodding up and down to everything he's saying.

ARod might get all the press but Marc Lore is the real deal. We will get really lucky when this deal goes through.

I really hope people will give this long interview a look and get to know the potential new Wolves owner. You will be impressed too.

And I think it's important to note that Lore is the one who will be the majority owner. As you said, ARod is the one getting all of the press even though he's not the one fronting the most money.

andyhop · Post #108 » by **andyhop** » Mon Apr 19, 2021 7:12 am

Klomp wrote:
Nick K wrote:I have never been more impressed in a guy than Marc Lore. Maybe because he mirrors my thinking in so many ways that I can't help it. It was so unexpected to be nodding up and down to everything he's saying.

ARod might get all the press but Marc Lore is the real deal. We will get really lucky when this deal goes through.

I really hope people will give this long interview a look and get to know the potential new Wolves owner. You will be impressed too.

And I think it's important to note that Lore is the one who will be the majority owner. As you said, ARod is the one getting all of the press even though he's not the one fronting the most money.

I actually wonder if Lore will end up as the majority owner.

Given his wealth and the amount needed to complete the purchase I could easily see him ending up owning the biggest chunk but not a majority stake when things are finalised

Post #109 » by **Klomp** » Mon Apr 19, 2021 5:42 pm

andyhop wrote:I actually wonder if Lore will end up as the majority owner.

Given his wealth and the amount needed to complete the purchase I could easily see him ending up owning the biggest chunk but not a majority stake when things are finalised

Unless you think all stakeholders will be below 50%, that's the only way that happens. And I'm not exactly sure how common that is around sports.

KGdaBom · Post #110 » by **KGdaBom** » Thu Apr 22, 2021 6:36 pm

Still no sale.

Post #111 » by **Klomp** » Thu Apr 22, 2021 7:20 pm

KGdaBom wrote:Still no sale.

Read on Twitter

Lore attending Wolves games. ARod proudly sporting Wolves apparel. I'm not worried about it. To this point, there's no reason to be worried it will fall through.

KGdaBom · Post #112 » by **KGdaBom** » Thu Apr 22, 2021 8:07 pm

Klomp wrote:
KGdaBom wrote:Still no sale.

Read on Twitter

Lore attending Wolves games. ARod proudly sporting Wolves apparel. I'm not worried about it. To this point, there's no reason to be worried it will fall through.

I was never worried about it. However, I didn't know about the letter of intent. That puts a different light on it.

shrink · Post #113 » by **shrink** » Fri Apr 23, 2021 4:30 pm

Read on Twitter

And if you want to know what it’s like owning the Wolves, talk to the guy who owns the Kings.

Post #114 » by **Klomp** » Mon Apr 26, 2021 11:59 pm

Watch on YouTube

Post #115 » by **Klomp** » Tue Apr 27, 2021 4:00 pm

Full interview:

Watch on YouTube

andyhop · Post #116 » by **andyhop** » Wed May 12, 2021 9:58 am

The exclusive negotiating window has run out with no final agreement signed, other groups apparently renewing interest

Rookie-Mistake · Post #117 » by **Rookie-Mistake** » Wed May 12, 2021 10:32 am

The 2.5 year handover detail has to be the issue.

I'll be stunned if he sells.

andyhop wrote:The exclusive negotiating window has run out with no final agreement signed, other groups apparently renewing interest

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ClarkeW · Post #118 » by **ClarkeW** » Thu May 13, 2021 6:08 pm

It’s official according to Shams. $1.5B and Rodgriuez/Lore are 50/50 partners. Taylor will stay on for the 2.5 years or whatever it is as well.

Honestly, I couldn’t be happier. An ownership change was needed for this team to ever win a championship. I’m also optimistic that the team isn’t going to be moved.

Shaka_Zulu · Post #119 » by **Shaka_Zulu** » Thu May 13, 2021 6:48 pm

What happens with Glen Taylor 2.5 year period? Hopefully he has no power or no say?

ClarkeW · Post #120 » by **ClarkeW** » Thu May 13, 2021 8:16 pm

Shaka_Zulu wrote:What happens with Glen Taylor 2.5 year period? Hopefully he has no power or no say?

I think the idea is it’s an onboarding period. I believe he will technically still have some power. He’ll certainly have a voice in any important decisions/discussions. But he’s been pretty open about understanding it’s their team and I think he’ll let them do their thing, while providing his own two cents.