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

[KGdaBom]

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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

If Lore and A Rod didn't live up to the purchase contract Taylor has every right to terminate it. He did nothing shady.

[guest81]

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.

Taylor did absolutely nothing wrong. Lore and A Rod screwed up. No more and no less.

taylor has screwed up since he bought the team

[Klomp]

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[KGdaBom]

So say you’re selling your car. Two guys say they will buy it, but they can’t afford the full price today.

You offer them an installment plan, they give you 20% of the money, and let them drive it

When the time comes for the second payment of 20%, they don’t have that either. You give them another extension for a loan, and you get your 20% more.

When the third payment comes for 40%, they still can’t afford it. The bank refuses to give them a loan, and they say they will get some other financing, but you have to wait again, and maybe you’ll get paid.

Still selling your car to these guys?

Nope.

[BlacJacMac]

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

If Lore and A Rod didn't live up to the purchase contract Taylor has every right to terminate it. He did nothing shady.

Now do this one on your one man "Glen Taylor Redemption Tour":

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[Neeva]

What an old creep.” partly” my ass.

[m2002brian]

Glen is a dick. Simple and plain.

He agreed to the structured timeline for payoff.
He agreed to the extensions.

If you agree to sell a car or a sports team on a plan, and agree to give extensions to the buyer if they need more time, its not the buyers fault if the car or the sports team goes up in value. The buyers are assuming the same risk that it could go down in value (less likely for sports teams).

And this ladies and gentlemen is why I have nothing but despise for Glen Taylor and also why I think it's why the NBA seems to bone the **** out of the timberwolves compared to other small market teams. They don't like him and his shady ass bull either.

[younggunsmn]

Wow.
Glen Taylor gonna Glen Taylor.

What a piece of garbage.

This is extremely unfortunate when things are finally starting to look up for this franchise.
As much as I can't stand Alex Rodriguez, Glen Taylor is 20X the level of douchebag.

He's the one who wanted the long drawn out sale process because it allowed him to freeze out his minority owners, and now he's getting cold feet because the value of the team understandably appreciated over those 2-3 years in a time of historic inflation thanks to the glue sniffing crayon eating morons running the government at all levels.

Guy in his 80's willing to eff over an entire fanbase and create an extremely Toxic ownership situation over possibly (after probably years of legal wrangling) getting an extra 300-400 million when he's already putting 1.2 billion into his damn pocket.

I hope loud chants of "Glen Taylor sucks" ring out loud at every home game from here on out.

[KGdaBom]

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Of course it has to do with the franchise gaining value. All A Rod and Lore had to do was live up to the purchase contract. We will find out what the arbiter rules, but I bet that takes at least a year.

[wolves_89]

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

If Lore and A Rod didn't live up to the purchase contract Taylor has every right to terminate it. He did nothing shady.

I think the question at the moment is whether they did live up to the contract or not, so far I haven't seen any fact based reporting on what the contract actually says. It seems very clear that the two sides have different understandings of what needed to happen by March 27.

[younggunsmn]

The admission in that interview gonna screw him in court.

[m2002brian]

The fact the Glen didn't even know when the last extension was even supposed to expire tells us all we need to know about how much of the contract Glen actually understands.

[younggunsmn]

NBA needs to step in and end this quickly.

[KGdaBom]

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.

Taylor did absolutely nothing wrong. Lore and A Rod screwed up. No more and no less.

taylor has screwed up since he bought the team

yes he has, but in this purchase agreement it seems that the screw ups are A Rod and Lore.

[winforlose]

The car analogy fails because Glen always intended to retain partial ownership. It is more like selling a house where you do a seller financed mortgage and in exchange the buyer lets you keep a piece and profit off of appreciation.

At the heart of this is a contract dispute. Glen feels like they breached the deal, and since the deal is no longer favorable to him, he wants to get out of it. If the breach occurred, then that is his right. If not, then Lore and AROD will win in court and Glen will likely pay their legal expenses. The downside is mostly to the team and fans who now get a distraction with potentially serious implications moving forward.

[m2002brian]

NBA needs to step in and end this quickly.

Think Glen is trying to be "sneaky" and get Lore's backer from this last payment to drop out so they actually do break the contract that they probably haven't broken yet?

[BlacJacMac]

Taylor did absolutely nothing wrong. Lore and A Rod screwed up. No more and no less.

taylor has screwed up since he bought the team

yes he has, but in this purchase agreement it seems that the screw ups are A Rod and Lore.

That's clearly what you have decided.

[KGdaBom]

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

If Lore and A Rod didn't live up to the purchase contract Taylor has every right to terminate it. He did nothing shady.

I think the question at the moment is whether they did live up to the contract or not, so far I haven't seen any fact based reporting on what the contract actually says. It seems very clear that the two sides have different understandings of what needed to happen by March 27.

True. This is going to be in arbitration for a year or more. Is it binding arbitration or can the loser appeal.

[shrink]

Think Glen is trying to be "sneaky" and get Lore's backer from this last payment to drop out so they actually do break the contract that they probably haven't broken yet?

Come on. I’m amazed that people are creating imaginary scenarios to put all the blame on Taylor!

How’s this for a solution? If you want to buy a team, make the payments you agreed to on time. That avoids arguments about extensions or the process of extensions. Is that so unreasonable?

[younggunsmn]

NBA needs to step in and end this quickly.

Think Glen is trying to be "sneaky" and get Lore's backer from this last payment to drop out so they actually do break the contract that they probably haven't broken yet?

What makes you think he didn't have a hand in chasing away their original backer (Carlyle Group)?
The people who have the money to do these kinds of things is a pretty small circle of individuals.