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

[gandlogo]

Extend the buying option timeframe for a few shekels. Lore gets more time to pull together his financing, and Taylor captures some of the valuation increase. It seems too far down the road not to happen, but you never know.

[shrink]

Extend the buying option timeframe for a few shekels. Lore gets more time to pull together his financing, and Taylor captures some of the valuation increase. It seems too far down the road not to happen, but you never know.

Yes, I think that’s the plan here.

Except for a brief stint when Flip re-energized him, Glen Taylor has been secretly trying to sell the team for the last two decades. The only reason that didn’t happen was his insistence that it stay in Minnesota. At 83, and with no heir that wants to take over (like the Twins/Pohlads), the sale of the Wolves is all about estate planning. I’m sure Taylor wants closer to full value for the team, but he has also demonstrated he wants to put the team into someone else’s hands.

[ForeverTFC]

It's really hard to find anything on this nationally so coming to you all for some help. Has anyone in Minnesota written about why Taylor sold to Lore and ARod under this type of structure to begin with? Is Taylor getting a higher valuation going this route?

It just seems odd to me that there isn't any group out there that would have bought the Wolves out outright and kept them in Minny. Have to believe Taylor is getting something out of going down this route.

[BlacJacMac]

It's really hard to find anything on this nationally so coming to you all for some help. Has anyone in Minnesota written about why Taylor sold to Lore and ARod under this type of structure to begin with? Is Taylor getting a higher valuation going this route?

It just seems odd to me that there isn't any group out there that would have bought the Wolves out outright and kept them in Minny. Have to believe Taylor is getting something out of going down this route.

Taylor has been pushing for a "gradual sale" for years and years.

Not only has he been adamant about keeping the team in Minnesota, but he's been stuck on the idea of basically "mentoring" the next owner(s) over a couple years and slowly transitioning the team to them.

Its one of the reasons that he hasn't had as much interest as other teams that have been on the market.

[Domejandro]

Regardless of what news reports are saying.
This stinks to high heaven of Glen Taylor slimy shenanigans.

Has he duped Lore and ARod into a minority ownership position? If this “falls through” is he going to “decide” he isn’t going to sell the 40% anymore?

Something tells me he’s a little bitter about the value of the team going up as fast as it has and not getting in on it.

**Disclaimer**
Thanks Glen for keeping the team in MN
But you seem like the kind of guy to smile in your face then **** you in the ass.

I mean... given that he has offered them multiple extensions, it seems pretty clear that they are the incompetent ones, in this interaction. They straight up just haven't been able to bring the cash, despite buying the franchise at a low valuation and having multiple years to increase their ownership stake. I think that Glen Taylor is completely justified to begin applying pressure.

[winforlose]

Regardless of what news reports are saying.
This stinks to high heaven of Glen Taylor slimy shenanigans.

Has he duped Lore and ARod into a minority ownership position? If this “falls through” is he going to “decide” he isn’t going to sell the 40% anymore?

Something tells me he’s a little bitter about the value of the team going up as fast as it has and not getting in on it.

**Disclaimer**
Thanks Glen for keeping the team in MN
But you seem like the kind of guy to smile in your face then **** you in the ass.

I mean... given that he has offered them multiple extensions, it seems pretty clear that they are the incompetent ones, in this interaction. They straight up just haven't been able to bring the cash, despite buying the franchise at a low valuation and having multiple years to increase their ownership stake. I think that Glen Taylor is completely justified to begin applying pressure.

I think you both make a valid point. I do think Glen is bothered by the sudden dramatic increase in value. But I also think the deal was structured in a way to allow the new ownership group to proceed at their pace and get the money together. Glen cannot be held responsible for their failing to do so in a timely manner. I think the thing you no need to remember is, Glen wants to sell the team. He has been trying for a long time. However this shakes out, Glen doesn’t seem to want to play games and try to maintain control/ownership.

[NebWolvesFan]

Regardless of what news reports are saying.
This stinks to high heaven of Glen Taylor slimy shenanigans.

Has he duped Lore and ARod into a minority ownership position? If this “falls through” is he going to “decide” he isn’t going to sell the 40% anymore?

Something tells me he’s a little bitter about the value of the team going up as fast as it has and not getting in on it.

**Disclaimer**
Thanks Glen for keeping the team in MN
But you seem like the kind of guy to smile in your face then **** you in the ass.

I mean... given that he has offered them multiple extensions, it seems pretty clear that they are the incompetent ones, in this interaction. They straight up just haven't been able to bring the cash, despite buying the franchise at a low valuation and having multiple years to increase their ownership stake. I think that Glen Taylor is completely justified to begin applying pressure.

I think you both make a valid point. I do think Glen is bothered by the sudden dramatic increase in value. But I also think the deal was structured in a way to allow the new ownership group to proceed at their pace and get the money together. Glen cannot be held responsible for their failing to do so in a timely manner. I think the thing you no th need to remember is, Glen wants to sell the team. He has been trying for a long time. However this shakes out, Glen doesn’t seem to want to play games and try to maintain control/ownership.

I think in a perfect world for Glen, he offers Lore a delay to pay until the end of the year. That allows Glen to celebrate the success of this year's team, get a large chunk of the 15 million Minnesota gets for staying under the tax and then be long gone when the luxury tax payment comes due in the summer of 2025.

What I don't get is that why does Alex and Lore have to buy 80 percent. If they have another 300 million, give that to Glen. Along with the 40 percent they have already purchased, they would own more than 60 percent of the team. Glen is not going to give back 600 million, not accept for check for another 300 million this month, with another 300 million likely coming soon.

[winforlose]

I mean... given that he has offered them multiple extensions, it seems pretty clear that they are the incompetent ones, in this interaction. They straight up just haven't been able to bring the cash, despite buying the franchise at a low valuation and having multiple years to increase their ownership stake. I think that Glen Taylor is completely justified to begin applying pressure.

I think you both make a valid point. I do think Glen is bothered by the sudden dramatic increase in value. But I also think the deal was structured in a way to allow the new ownership group to proceed at their pace and get the money together. Glen cannot be held responsible for their failing to do so in a timely manner. I think the thing you no th need to remember is, Glen wants to sell the team. He has been trying for a long time. However this shakes out, Glen doesn’t seem to want to play games and try to maintain control/ownership.

I think in a perfect world for Glen, he offers Lore a delay to pay until the end of the year. That allows Glen to celebrate the success of this year's team, get a large chunk of the 15 million Minnesota gets for staying under the tax and then be long gone when the luxury tax payment comes due in the summer of 2025.

What I don't get is that why does Alex and Lore have to buy 80 percent. If they have another 300 million, give that to Glen. Along with the 40 percent they have already purchased, they would own more than 60 percent of the team. Glen is not going to give back 600 million, not accept for check for another 300 million this month, with another 300 million likely coming soon.

I don’t know the particulars of how the deal was structured, but if Glen retains partial ownership that was by his design. The value of the team is likely to continue to increase and therefore partial ownership is a good investment for Glen. As for just giving 300 million, it sounds like a liquidity issue. Say your net worth is 1 billion. That does not mean you have 1 billion available to spend today. Presumably Lore has money tied up that he cannot access easily, and that borrowing against could be difficult. It is also true that diversifying your investments is a good idea. Even if Lore could pull together another 300 million, that would have opportunity costs and limit his flexibility.

[shrink]

I think in a perfect world for Glen, he offers Lore a delay to pay until the end of the year. That allows Glen to celebrate the success of this year's team, get a large chunk of the 15 million Minnesota gets for staying under the tax and then be long gone when the luxury tax payment comes due in the summer of 2025.

What I don't get is that why does Alex and Lore have to buy 80 percent. If they have another 300 million, give that to Glen. Along with the 40 percent they have already purchased, they would own more than 60 percent of the team. Glen is not going to give back 600 million, not accept for check for another 300 million this month, with another 300 million likely coming soon.

I think this is probably where it ends up, but I don’t think this is what Glen wanted. My speculation is that while Glen could give up majority ownership, he wants to be completely divested from ownership for estate planning purposes. If he was to die with 40% equity, and none of his heirs wanted to own the team, they’d have to sell it. ARod and Lore likely have language in the deal to get first crack at it, but they don’t have the cash, so it would be put up for big to random buyers (who also must be approved by the NBA Board of Governors).

For the last twenty years, Taylor has been willing to sell, but it’s been very important to him to control the process, to sell to the people he wants. He likes ARod and Lore, but he’s doing his heirs a disservice if he doesn’t get them a fair deal.

[Klomp]

Everyone breathe

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[BlacJacMac]

From a Canis comment:

This is going through. Dyal has already been approved and can legally own up to 30 percent of the team. Owners have already approved their involvement with the Suns - they have since sold their shares - and Kings and Hawks. They can own shares in up to five teams. Lore/Arod are this team's new majority owners.

[Klomp]

From a Canis comment:

This is going through. Dyal has already been approved and can legally own up to 30 percent of the team. Owners have already approved their involvement with the Suns - they have since sold their shares - and Kings and Hawks. They can own shares in up to five teams. Lore/Arod are this team's new majority owners.

Correct. The key word in the Shams tweet I posted above is "pre-approved investor", which to me means NBA approval is merely a formality.

[KGdaBom]

Regardless of what news reports are saying.
This stinks to high heaven of Glen Taylor slimy shenanigans.

Has he duped Lore and ARod into a minority ownership position? If this “falls through” is he going to “decide” he isn’t going to sell the 40% anymore?

Something tells me he’s a little bitter about the value of the team going up as fast as it has and not getting in on it.

**Disclaimer**
Thanks Glen for keeping the team in MN
But you seem like the kind of guy to smile in your face then **** you in the ass.

If Lore and A Rod can't come up with the payment and the team has appreciated 40% since the deal was made I don't blame Glen at all if he pulls the rug out. It's all on A Rod and Lore.

[Nick K]

All the worrying and gnashing of teeth is for naught. Lore and Arod had this under control from day 1. Plus Taylor wanted them to be the guys. Obviously Lore and Arod had back-up plans as smart business people do.

No way this deal was going south with all the good faith money they had put down. And, Taylor would have given them more time if needed.

[winforlose]

This story never felt like anything serious. Lore has the money, it was just a liquidity issue. Someone was always going to invest. The real question is who much luxury tax can Lore afford. But, as I have been saying all along, he and AROD have been part of every major move since entering the picture. Everything TC has done has been with the new ownership group around (if not at their direction.) So they obviously know what they are getting into, and I doubt they get into it without the funds to get through it.

[m2002brian]

Regardless of what news reports are saying.
This stinks to high heaven of Glen Taylor slimy shenanigans.

Has he duped Lore and ARod into a minority ownership position? If this “falls through” is he going to “decide” he isn’t going to sell the 40% anymore?

Something tells me he’s a little bitter about the value of the team going up as fast as it has and not getting in on it.

**Disclaimer**
Thanks Glen for keeping the team in MN
But you seem like the kind of guy to smile in your face then **** you in the ass.

If Lore and A Rod can't come up with the payment and the team has appreciated 40% since the deal was made I don't blame Glen at all if he pulls the rug out. It's all on A Rod and Lore.

Considering how it’s turning out. Kind of a bitch move for Glen to run his mouth to the media.
I will never trust that man for how he handled the Joe Smith deal and KG.

[winforlose]

Regardless of what news reports are saying.
This stinks to high heaven of Glen Taylor slimy shenanigans.

Has he duped Lore and ARod into a minority ownership position? If this “falls through” is he going to “decide” he isn’t going to sell the 40% anymore?

Something tells me he’s a little bitter about the value of the team going up as fast as it has and not getting in on it.

**Disclaimer**
Thanks Glen for keeping the team in MN
But you seem like the kind of guy to smile in your face then **** you in the ass.

If Lore and A Rod can't come up with the payment and the team has appreciated 40% since the deal was made I don't blame Glen at all if he pulls the rug out. It's all on A Rod and Lore.

Considering how it’s turning out. Kind of a bitch move for Glen to run his mouth to the media.
I will never trust that man for how he handled the Joe Smith deal and KG.

He is 83 and seemingly not very with it. He didn’t even know when the payment was supposed to go through. I don’t think you can assume the intent that you’re assuming. I also think the media is ginning up controversy because it increases clicks and reads. This was a giant nothing burger.

[shrink]

Regardless of what news reports are saying.
This stinks to high heaven of Glen Taylor slimy shenanigans.

Has he duped Lore and ARod into a minority ownership position? If this “falls through” is he going to “decide” he isn’t going to sell the 40% anymore?

Something tells me he’s a little bitter about the value of the team going up as fast as it has and not getting in on it.

**Disclaimer**
Thanks Glen for keeping the team in MN
But you seem like the kind of guy to smile in your face then **** you in the ass.

If Lore and A Rod can't come up with the payment and the team has appreciated 40% since the deal was made I don't blame Glen at all if he pulls the rug out. It's all on A Rod and Lore.

Considering how it’s turning out. Kind of a bitch move for Glen to run his mouth to the media.
I will never trust that man for how he handled the Joe Smith deal and KG.

It feels like you are trying to see the worst here, when none of the things you mentioned happened.

And for the record, I don’t expect owners to know the CBA, so if anyone is to blame for the Joe Smith deal, it’s McHale.

[m2002brian]

If Lore and A Rod can't come up with the payment and the team has appreciated 40% since the deal was made I don't blame Glen at all if he pulls the rug out. It's all on A Rod and Lore.

Considering how it’s turning out. Kind of a bitch move for Glen to run his mouth to the media.
I will never trust that man for how he handled the Joe Smith deal and KG.

It feels like you are trying to see the worst here, when none of the things you mentioned happened.

And for the record, I don’t expect owners to know the CBA, so if anyone is to blame for the Joe Smith deal, it’s McHale.

It’s personal between me and Glen.
I think he’s the reason the league and its brand managers have it out for us.

[Movics]

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Man, I despise Taylor, although it comes off as incompetence from Lore and ARod. Taylor must’ve had seller’s remorse and now he will sell the team for a billion more to who knows what group…