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

[KGdaBom]

I'm wondering how bad Lore and A Rod are feeling today knowing they screwed themselves out of a billion dollar profit.

True! But the $600 mil in profit they made can comfort them a little.

if they can sell at current Market value. What if Glen can buy them back at purchase price?

[Domejandro]

He's an old billionaire that will be dead in a few years. What is the literal point of anv extra billion or so? You'll never see it, your family's great great grandkids will be the same. It's purely ego

It isn't Glen Taylor's job to babysit a hundred millionaire and billionaire on their first sports franchise purchase. Being competent enough to actually complete payments on time is kind of a huge deal for owning a multi-billion dollar franchise.

Glen Taylor is being a cutthroat miserable business man, but this was incredibly easy to avoid.

He wanted to be a "mentor" to Lore and arod! Being rich doesn't make it shrewd or smart. In comparison to other owners in sports, he's a child

Mentoring them on the basketball side (AKA, providing new ownership that will keep the team in Minnesota time to complete the purchase) does not equate twiddling your thumbs while two complete chuckle **** repeatedly fail to meet payment deadlines and constantly beg for extensions.

I don't understand why people are defending them. If they met deadlines, they wouldn't be in this position. Glen Taylor being a miserable **** is not relevant to them fumbling.

[Colbinii]

yeah...looks like seller's remorse

Read on Twitter

Anybody who sold a car for $10,000 and find out somebody else would have paid them $18,000 will have Seller's Remorse.

Yeah, especially when the person buying it gave you two payments of $2,000 so far.

It's all going to come down to paperwork and what the agreement was originally and what has been amended.

Clearly a shifty move by Taylor, but as **** as it may be, there could be legal precedent for him.

[guest81]

I'm wondering how bad Lore and A Rod are feeling today knowing they screwed themselves out of a billion dollar profit.

True! But the $600 mil in profit they made can comfort them a little.

if they can sell at current Market value. What if Glen can buy them back at purchase price?

Disaster. Glen being completely in control puts the wolves back into a joke franchise

[guest81]

It isn't Glen Taylor's job to babysit a hundred millionaire and billionaire on their first sports franchise purchase. Being competent enough to actually complete payments on time is kind of a huge deal for owning a multi-billion dollar franchise.

Glen Taylor is being a cutthroat miserable business man, but this was incredibly easy to avoid.

He wanted to be a "mentor" to Lore and arod! Being rich doesn't make it shrewd or smart. In comparison to other owners in sports, he's a child

Mentoring them on the basketball side (AKA, providing new ownership that will keep the team in Minnesota time to complete the purchase) does not equate twiddling your thumbs while two complete chuckle **** repeatedly fail to meet payment deadlines and constantly beg for extensions.

I don't understand why people are defending them. If they met deadlines, they wouldn't be in this position. Glen Taylor being a miserable **** is not relevant to them fumbling.

Defending them in the fact with Lore and arod in charge, wolves are now championship contenders, with Taylor in charge, wolves have been one of the worst franchises in sports. Bottom line

[shrink]

True! But the $600 mil in profit they made can comfort them a little.

if they can sell at current Market value. What if Glen can buy them back at purchase price?

Disaster. Glen being completely in control puts the wolves back into a joke franchise

It’s a good point, but no. I wondered earlier if the original deal contained a buy-out clause, so the parties could divorce themselves from future battles if the deal went south. It sounds though that is not the case. In fact Taylor said they would keep their 36% of the Wolves and he would continue to act as majority owner.

[KGdaBom]

Prediction: Arbitration will rule in favor of Glen terminating the purchase, but allow Lore and A Rod to keep there shares and do whatever they want with them including selling for a large profit.

[shrink]

Mentoring them on the basketball side (AKA, providing new ownership that will keep the team in Minnesota time to complete the purchase) does not equate twiddling your thumbs while two complete chuckle **** repeatedly fail to meet payment deadlines and constantly beg for extensions.

I don't understand why people are defending them. If they met deadlines, they wouldn't be in this position. Glen Taylor being a miserable **** is not relevant to them fumbling.

Defending them in the fact with Lore and arod in charge, wolves are now championship contenders, with Taylor in charge, wolves have been one of the worst franchises in sports. Bottom line

The past may be what you want to talk about, but that is not at issue today.

I think people that don’t like Taylor are just using ARod and Lore’s inability to pay as somehow Taylor’s fault.

[shrink]

Prediction: Arbitration will rule in favor of Glen terminating the purchase, but allow Lore and A Rod to keep there shares and do whatever they want with them including selling for a large profit.

I agree, and I further predict they WILL sell them and take the profit.

[KGdaBom]

if they can sell at current Market value. What if Glen can buy them back at purchase price?

Disaster. Glen being completely in control puts the wolves back into a joke franchise

It’s a good point, but no. I wondered earlier if the original deal contained a buy-out clause, so the parties could divorce themselves from future battles if the deal went south. It sounds though that is not the case. In fact Taylor said they would keep their 36% of the Wolves and he would continue to act as majority owner.

Assuming this is correct than Lore and A Rod make out well financially no matter what the Arbiter rules, but their reputations will be tarnished.

[shangrila]

If Glen can sell to an actually financially stable group I won't care about this. Like, for as much of a disaster as Phoenix have been this season, give me a guy like Ishbia as an owner. Especially given this team has already been established with good pieces from top to bottom, including the FO, coaching and roster.

[guest81]

Mentoring them on the basketball side (AKA, providing new ownership that will keep the team in Minnesota time to complete the purchase) does not equate twiddling your thumbs while two complete chuckle **** repeatedly fail to meet payment deadlines and constantly beg for extensions.

I don't understand why people are defending them. If they met deadlines, they wouldn't be in this position. Glen Taylor being a miserable **** is not relevant to them fumbling.

Defending them in the fact with Lore and arod in charge, wolves are now championship contenders, with Taylor in charge, wolves have been one of the worst franchises in sports. Bottom line

The past may be what you want to talk about, but that is not at issue today.

I think people that don’t like Taylor are just using ARod and Lore’s inability to pay as somehow Taylor’s fault.

It is totally an issue today. After flip died, Glen screwed over kg and made rosas hire Ryan Saunders who was not an NBA level coach.

[guest81]

Mentoring them on the basketball side (AKA, providing new ownership that will keep the team in Minnesota time to complete the purchase) does not equate twiddling your thumbs while two complete chuckle **** repeatedly fail to meet payment deadlines and constantly beg for extensions.

I don't understand why people are defending them. If they met deadlines, they wouldn't be in this position. Glen Taylor being a miserable **** is not relevant to them fumbling.

Defending them in the fact with Lore and arod in charge, wolves are now championship contenders, with Taylor in charge, wolves have been one of the worst franchises in sports. Bottom line

The past may be what you want to talk about, but that is not at issue today.

I think people that don’t like Taylor are just using ARod and Lore’s inability to pay as somehow Taylor’s fault.

I would take a Lore and arod making 50 grand a year, over a Glen Taylor trillionaire

[KGdaBom]

Defending them in the fact with Lore and arod in charge, wolves are now championship contenders, with Taylor in charge, wolves have been one of the worst franchises in sports. Bottom line

The past may be what you want to talk about, but that is not at issue today.

I think people that don’t like Taylor are just using ARod and Lore’s inability to pay as somehow Taylor’s fault.

I would take a Lore and arod making 50 grand a year, over a Glen Taylor trillionaire

I know and understand what you want. It's more fun having Lore and A Rod as the owners, but it seems to me that Taylor is legally in the right and I don't believe ethically in the wrong.

[BlacJacMac]

if they can sell at current Market value. What if Glen can buy them back at purchase price?

Disaster. Glen being completely in control puts the wolves back into a joke franchise

It’s a good point, but no. I wondered earlier if the original deal contained a buy-out clause, so the parties could divorce themselves from future battles if the deal went south. It sounds though that is not the case. In fact Taylor said they would keep their 36% of the Wolves and he would continue to act as majority owner.

The only thing that seems certain is, no matter what the ruling, Lore's group gets to keep their shares.

At this point, it seems like no one knows if they met the deadline or not. If they met the deadline, but the NBA is holding things up, I'm not sure how that can be held against Lore and ARod.

From Jon K:

“We are disappointed with Glen Taylor’s public statement today,” a spokesperson for Lore and Rodriguez said. “We have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process. Glen Taylor’s statement is an unfortunate case of seller’s remorse that is short-sighted and disruptive to the team and the fans during a historic winning season.”

Just last week, the pair submitted financial documentation to the NBA as they moved to finalize their purchase of a 40 percent stake that would vault them from limited partners to majority owners. Now that ascension appears to be in jeopardy.

What happens next is not immediately known. The purchase agreement calls for mediation and arbitration to resolve any such disputes, league sources told The Athletic.

Exactly when that would happen and how long it would take remains to be seen. Under the terms of the agreement, Lore and Rodriguez retain the 40 percent of the team they have already purchased.

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

[BlacJacMac]

More:

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.

According to the statement, Taylor’s view 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 27 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.

[guest81]

The past may be what you want to talk about, but that is not at issue today.

I think people that don’t like Taylor are just using ARod and Lore’s inability to pay as somehow Taylor’s fault.

I would take a Lore and arod making 50 grand a year, over a Glen Taylor trillionaire

I know and understand what you want. It's more fun having Lore and A Rod as the owners, but it seems to me that Taylor is legally in the right and I don't believe ethically in the wrong.

Glen has said that his biggest issue has been keeping the team in Minnesota. Nothing has come out saying that Lore and arod plan on moving the team. Glen has said on record that he doesn't know if they have the money or not. It's simply the fact that the team is worth a ton more and is a title contender and he wasn't a part of it. Those are the facts and to me that ethically Glen is completely wrong

[shrink]

I would take a Lore and arod making 50 grand a year, over a Glen Taylor trillionaire

I know and understand what you want. It's more fun having Lore and A Rod as the owners, but it seems to me that Taylor is legally in the right and I don't believe ethically in the wrong.

Glen has said that his biggest issue has been keeping the team in Minnesota. Nothing has come out saying that Lore and arod plan on moving the team. Glen has said on record that he doesn't know if they have the money or not. It's simply the fact that the team is worth a ton more and is a title contender and he wasn't a part of it. Those are the facts and to me that ethically Glen is completely wrong

Have you ever done a deal in your life? Is holding people to the deal they agreed to unethical?

[guest81]

I know and understand what you want. It's more fun having Lore and A Rod as the owners, but it seems to me that Taylor is legally in the right and I don't believe ethically in the wrong.

Glen has said that his biggest issue has been keeping the team in Minnesota. Nothing has come out saying that Lore and arod plan on moving the team. Glen has said on record that he doesn't know if they have the money or not. It's simply the fact that the team is worth a ton more and is a title contender and he wasn't a part of it. Those are the facts and to me that ethically Glen is completely wrong

Have you ever done a deal in your life? Is holding people to the deal they agreed to unethical?

That has yet to be determined

[shrink]

I would take a Lore and arod making 50 grand a year, over a Glen Taylor trillionaire

I know and understand what you want. It's more fun having Lore and A Rod as the owners, but it seems to me that Taylor is legally in the right and I don't believe ethically in the wrong.

Glen has said that his biggest issue has been keeping the team in Minnesota. Nothing has come out saying that Lore and arod plan on moving the team. Glen has said on record that he doesn't know if they have the money or not. It's simply the fact that the team is worth a ton more and is a title contender and he wasn't a part of it. Those are the facts and to me that ethically Glen is completely wrong

I don’t get this point either. ARod and Lore said they had the money and that’s the deal. Over the last two years, they have been the ones scrambling around, looking for others to front them the money, including selling part of their Wolves ownership. Why blame Glen, and not ARod and Lore, for the deal potentially falling apart?

Even if all goes wrong for ARod and Lore, they’ve made half a billion dollars, and for you, Taylor owns 40% less of the club. I guess I don’t understand why you seem so angry about all this, and are putting all the blame here on “unethical” Glen Taylor?