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

[bluethunder0005]

So how does this work, if it was a one time payment then it makes sense how it could just be over but Marc and A-Rod have bought like 20% or 40% of it already right? Are they just minority owners now?

[guest81]

Can't wait now until next year when Connley steps down and Sidney Lowe takes his place

[TimberKat]

I don't know who is a better owner for Wolves but I am sure Taylor is not a good owner. It is too bad that I am just a couple billions short, otherwise, I definitely would buy the team.

[life_saver]

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[TheProdigy]

When this whole thing started I remember Taylor said one of the reasons he chose to sell to Lore and ARod was because of their commitment to keeping the team in Minnesota. Fast forward to today, Lore and ARod miss the final payment by mere days. Now the team is no longer for sale and Taylor maintains his majority ownership with extra cash in his pocket. What a crook.

[guest81]

I don't know who is a better owner for Wolves but I am sure Taylor is not a good owner. It is too bad that I am just a couple billions short, otherwise, I definitely would buy the team.

The Wolves were literally the worst team in sports by win percentage under Taylor. You got someone with an ounce of knowing what he's doing, and it's like a a whole new world. F Glen Taylor

[winforlose]

WTF!!!!!!!??

[brutalitops]

Oh no.

[BlacJacMac]

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[winforlose]

[youtube][/youtube]

When this whole thing started I remember Taylor said one of the reasons he chose to sell to Lore and ARod was because of their commitment to keeping the team in Minnesota. Fast forward to today, Lore and ARod miss the final payment by mere days. Now the team is no longer for sale and Taylor maintains his majority ownership with extra cash in his pocket. What a crook.

Doogy had an old tweet talking about the new guys missing deadlines previously. Apparently it really pissed Glen off. So now when they did it again he decided **** them. The problem is now we are all ******* including Glen. All that new value that the franchise added will soon disappear when Glen plunges us back into the dark ages. The only possible upside to this is if Glen discovered or had a significant suspicion that Arod and Lore were gonna flip the team or try to move it. In either case this might have been done to keep us here. More likely Glen is greedy and we are doomed!

[BlacJacMac]

I wonder how this affects Tim Connelly's thoughts about the franchise?

[winforlose]

I wonder how this affects Tim Connelly's thoughts about the franchise?

Depends on if Glen remains hands off. If Glen says you 3 (AROD, TC, Lore,) go run it, then TC will be fine. Especially if Glen is the deep pockets behind the scenes. If not, then we might be ******

[BlacJacMac]

I wonder how this affects Tim Connelly's thoughts about the franchise?

Depends on if Glen remains hands off. If Glen says you 3 (AROD, TC, Lore,) go run it, then TC will be fine. Especially if Glen is the deep pockets behind the scenes. If not, then we might be ******

I doubt Glen lets the minority owners run the show. Especially since he seems to have little faith in them.

[BlacJacMac]

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[winforlose]

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Not sure there is a dispute to mediate/arbitrate. They had a deadline and missed it. They didn’t lose their existing stake in the team. They just didn’t complete the 3rd transaction.

[winforlose]

I wonder how this affects Tim Connelly's thoughts about the franchise?

Depends on if Glen remains hands off. If Glen says you 3 (AROD, TC, Lore,) go run it, then TC will be fine. Especially if Glen is the deep pockets behind the scenes. If not, then we might be ******

I doubt Glen lets the minority owners run the show. Especially since he seems to have little faith in them.

Haven’t they been running it since the 2022 offseason? Honestly asking as that was my understanding.

[Movics]

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Not sure there is a dispute to mediate/arbitrate. They had a deadline and missed it. They didn’t lose their existing stake in the team. They just didn’t complete the 3rd transaction.

So it’s just a renegotiation tactic from Taylor to get more for the remaining stake… I understand it’s 100s of millions of dollars, but damn… what a shady way to get out of the deal

[BlacJacMac]

Depends on if Glen remains hands off. If Glen says you 3 (AROD, TC, Lore,) go run it, then TC will be fine. Especially if Glen is the deep pockets behind the scenes. If not, then we might be ******

I doubt Glen lets the minority owners run the show. Especially since he seems to have little faith in them.

Haven’t they been running it since the 2022 offseason? Honestly asking as that was my understanding.

Yes. But with the intention of them being the majority owners by now.

That didn't happen. Its now firmly Taylor's team with Lore and ARod along for the ride.

My guess is Glen will continue to look for a new owner that will pay actual market value for the team, and new owner will buy out Lore's group giving them a quick and very significant return on their 40%.

[Guest84]

Why can't anything with this franchise just be simple and not problematic? Every single thing that happens is just clown behavior. We'll never be able to rid the stench of dufus..it's like it's destined to be this way.

[BlacJacMac]

As it stands, this appears to come down to Taylor’s interpretation of the agreement versus the view of Lore and Rodriguez, who believe that last week’s filing of financial commitment letters was enough to show that the process can move forward.

Taylor’s view, according to the statement, is that when Lore and Rodriguez exercised their option to buy the final 40 percent in the deal, that opened a 90-day window for them to complete the entirety of closing. The agreement required Lore and Rodriguez to complete several steps in that window so that when March 27th arrived, everything was finished.

But Taylor’s view of the agreement shows that the prospective owners have missed several benchmarks along the way, including not yet going under a final review from the NBA’s finance committee, not receiving a letter of approval or a vote from the board of governors. No money has been exchanged yet, either.

Taylor believes that because those obligations were not fulfilled, Lore and Rodriguez were not eligible for an extension to finish that process and the option, therefore, has expired. Assuming Taylor does retain full control of the team, he is not expected to put it back on the market, league sources told The Athletic.

Lore and Rodriguez will likely argue that they fulfilled all of their obligations and were eligible to get the final 90-day extension to go through the league approval process, the vote from the Board of Governors and ascend to controlling owners.

Whether this eventually lands in the court system, is resolved through mediation/arbitration or some other way remains to be seen.

https://theathletic.com/5375544/2024/03/28/timberwolves-lynx-lore-rodriguez-ownership/