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

[KGdaBom]

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.

Ever since the purchase Agreement was signed I've been hearing reports that the purchasers pockets weren't deep enough to live up to the agreement. I've heard about deadlines being missed/extended. If anybody didn't live up to the agreement it would seem to me that would be A Rod and Lore. This will go to arbitration and hopefully a fair and unbiased arbiter will make a fair and unbiased decision.

[KGdaBom]

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?

Sounds like the right way to make the purchase.

[Calinks]

So it sounds like Glen agreed to a poor deal to start. Maybe he got outsmarted, maybe it just turned out that way unexpectedly. Either way, it was a bad deal because in the timeframe the deal took place, the Wolves value damn near tripled. Now Glen is butthurt because he realizes he is getting hosed big time. He did not get where he is today by getting hosed. He's the hosser, not the hossee. So at his first legal opportunity, he has backed out of the deal because that's what a shrewd businessman does, that's how you become Glen Taylor.

Arod and Lore, who maybe had this plan from the start, get outplayed. now they are in a legal battle. Glen will probably win. Arod and Lore will probably back out in the end and sell their shares for a profit still, this was possibly a risk they were aware of from the start. It's still a win/win because they get some profit though it is a major blow to lose the team.

That's my current thoughts.

[shrink]

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.

The Illuminati is the reason my car radio doesn’t work. You have no evidence to prove that’s not true!

[KGdaBom]

So it sounds like Glen agreed to a poor deal to start. Maybe he got outsmarted, maybe it just turned out that way unexpectedly. Either way, it was a bad deal because in the timeframe the deal took place, the Wolves value damn near tripled. Now Glen is butthurt because he realizes he is getting hosed big time. He did not get where he is today by getting hosed. He's the hosser, not the hossee. So at his first legal opportunity, he has backed out of the deal because that's what a shrewd businessman does, that's how you become Glen Taylor.

Arod and Lore, who maybe had this plan from the start, get outplayed. now they are in a legal battle. Glen will probably win. Arod and Lore will probably back out in the end and sell their shares for a profit still, this was possibly a risk they were aware of from the start. It's still a win/win because they get some profit though it is a major blow to lose the team.

That's my current thoughts.

most of us placed in a similar situation to Glen would terminate the deal if given a legal opportunity to do so. Glen has his problems, but in this case he's just doing what anybody else would do.

[KGdaBom]

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

[younggunsmn]

So it sounds like Glen agreed to a poor deal to start. Maybe he got outsmarted, maybe it just turned out that way unexpectedly. Either way, it was a bad deal because in the timeframe the deal took place, the Wolves value damn near tripled. Now Glen is butthurt because he realizes he is getting hosed big time. He did not get where he is today by getting hosed. He's the hosser, not the hossee. So at his first legal opportunity, he has backed out of the deal because that's what a shrewd businessman does, that's how you become Glen Taylor.

Arod and Lore, who maybe had this plan from the start, get outplayed. now they are in a legal battle. Glen will probably win. Arod and Lore will probably back out in the end and sell their shares for a profit still, this was possibly a risk they were aware of from the start. It's still a win/win because they get some profit though it is a major blow to lose the team.

That's my current thoughts.

This is probably pretty accurate.
Someone like Glen doesn't do something like this without consulting a whole team of lawyers.

Arod and Lore probably walk away with 300-400 million cash if they can sell their shares of the team.
That's alot of money, but they probably aren't going to be able to go out and buy another sports team now.

It's going to be in court for a while and then we're going to have divided ownership with Glen owning just over half of the team with the potential to croak at any time, which would lead to a much bigger mess.

Not good at all. A real black eye for this sports market. The NBA needs to put all the pressure on Glen it can to push this through even if it means nudging the valuation a bit to get him a little extra money.
Unless Arod and Lore really are too poor to meet the operating expenses, in which case Glen never should have agreed to sell to them in the first place. We've seen that movie before with Red McCombs and the VIkings.

[winforlose]

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

The issue is the buyback provisions. If Glen can buy back the shares at the same price he sold them, then AROD and Lore lose a billion (approximately.) But, if they can retain their shares or sell them back at current value, they make a huge profit (eventually.) 40% of a billion is still 400 million. Even with taxes it is still a terrific return on investment.

[life_saver]

yeah...looks like seller's remorse

Read on Twitter

[younggunsmn]

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.

The Illuminati is the reason my car radio doesn’t work. You have no evidence to prove that’s not true!

Oh you sweet summer child.

[shrink]

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.

[younggunsmn]

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

The issue is the buyback provisions. If Glen can buy back the shares at the same price he sold them, then AROD and Lore lose a billion (approximately.) But, if they can retain their shares or sell them back at current value, they make a huge profit (eventually.) 40% of a billion is still 400 million. Even with taxes it is still a terrific return on investment.

Yeah this will be even worse for them if there are buyback provisions Glen will have 80+% again, and they will end up with nothing.
Although one person owning 80+% will be better for the franchise when it comes to an eventual sale.
Especially if Glen croaks and splits his estate between his kid and his Trophy Wife.

[Klomp]

One positive for the team followers complaining about Taylor staying as owner:
The demand for a new arena to house the Timberwolves could come much later with Taylor in charge, rather than if Lore and Rodriguez had taken over.
"I'm OK with Target Center,'' Taylor said. "You would always like to see a few improvements, but I don't see a major problem with the arena for now.''

https://www.startribune.com/glen-taylor-interview-timberwolves-sale-marc-lore-alex-rodriguez-patrick-reusse/600354754/

[Calinks]

One positive for the team followers complaining about Taylor staying as owner:
The demand for a new arena to house the Timberwolves could come much later with Taylor in charge, rather than if Lore and Rodriguez had taken over.
"I'm OK with Target Center,'' Taylor said. "You would always like to see a few improvements, but I don't see a major problem with the arena for now.''

https://www.startribune.com/glen-taylor-interview-timberwolves-sale-marc-lore-alex-rodriguez-patrick-reusse/600354754/

I loved the idea of Lore's super smart arena that was going to be doing stuff 24/7. Was hopi n g it would be its own thing, maybe somewhere outside of the Target Center area with tailgating and everything.

[guest81]

So it sounds like Glen agreed to a poor deal to start. Maybe he got outsmarted, maybe it just turned out that way unexpectedly. Either way, it was a bad deal because in the timeframe the deal took place, the Wolves value damn near tripled. Now Glen is butthurt because he realizes he is getting hosed big time. He did not get where he is today by getting hosed. He's the hosser, not the hossee. So at his first legal opportunity, he has backed out of the deal because that's what a shrewd businessman does, that's how you become Glen Taylor.

Arod and Lore, who maybe had this plan from the start, get outplayed. now they are in a legal battle. Glen will probably win. Arod and Lore will probably back out in the end and sell their shares for a profit still, this was possibly a risk they were aware of from the start. It's still a win/win because they get some profit though it is a major blow to lose the team.

That's my current thoughts.

most of us placed in a similar situation to Glen would terminate the deal if given a legal opportunity to do so. Glen has his problems, but in this case he's just doing what anybody else would do.

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

[Domejandro]

One positive for the team followers complaining about Taylor staying as owner:
The demand for a new arena to house the Timberwolves could come much later with Taylor in charge, rather than if Lore and Rodriguez had taken over.
"I'm OK with Target Center,'' Taylor said. "You would always like to see a few improvements, but I don't see a major problem with the arena for now.''

https://www.startribune.com/glen-taylor-interview-timberwolves-sale-marc-lore-alex-rodriguez-patrick-reusse/600354754/

I loved the idea of Lore's super smart arena that was going to be doing stuff 24/7. Was hopi n g it would be its own thing, maybe somewhere outside of the Target Center area with tailgating and everything.

Marc Lore has a history of making wild claims that he can't keep. Look up his obscenely braindead "Telosa" concept.

Any claim or promise that Lore makes should pretty much always be discarded until it actually materializes. He is a huckster.

[Domejandro]

So it sounds like Glen agreed to a poor deal to start. Maybe he got outsmarted, maybe it just turned out that way unexpectedly. Either way, it was a bad deal because in the timeframe the deal took place, the Wolves value damn near tripled. Now Glen is butthurt because he realizes he is getting hosed big time. He did not get where he is today by getting hosed. He's the hosser, not the hossee. So at his first legal opportunity, he has backed out of the deal because that's what a shrewd businessman does, that's how you become Glen Taylor.

Arod and Lore, who maybe had this plan from the start, get outplayed. now they are in a legal battle. Glen will probably win. Arod and Lore will probably back out in the end and sell their shares for a profit still, this was possibly a risk they were aware of from the start. It's still a win/win because they get some profit though it is a major blow to lose the team.

That's my current thoughts.

most of us placed in a similar situation to Glen would terminate the deal if given a legal opportunity to do so. Glen has his problems, but in this case he's just doing what anybody else would do.

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.

[guest81]

One positive for the team followers complaining about Taylor staying as owner:
The demand for a new arena to house the Timberwolves could come much later with Taylor in charge, rather than if Lore and Rodriguez had taken over.
"I'm OK with Target Center,'' Taylor said. "You would always like to see a few improvements, but I don't see a major problem with the arena for now.''

https://www.startribune.com/glen-taylor-interview-timberwolves-sale-marc-lore-alex-rodriguez-patrick-reusse/600354754/

Target center is a dump

[guest81]

most of us placed in a similar situation to Glen would terminate the deal if given a legal opportunity to do so. Glen has his problems, but in this case he's just doing what anybody else would do.

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

[KGdaBom]

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.